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Ehealth, Inc. (EHTH) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Ehealth, Inc.

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CIK: 1333493 Ticker: EHTH

Exhibit 99.1
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eHealth, Inc. Announces Fourth Quarter 2019 and Fiscal 2019 Results

Fourth Quarter 2019 Overview

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Revenue for the fourth quarter of 2019 was $301.7 million, a 124% increase compared to $134.9 million for the fourth quarter of 2018.
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GAAP net income for the fourth quarter of 2019 was $88.8 million compared to net income of $26.1 million for the fourth quarter of 2018.
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Adjusted EBITDA was $142.6 million for the fourth quarter of 2019 compared to $51.9 million for the fourth quarter of 2018.
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Fourth quarter 2019 revenue and adjusted EBITDA include the positive impact of $42.3 million in revenue resulting from a change in estimate for expected cash commission collections relating to existing Medicare Advantage plans enrolled in prior to the fourth quarter.
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Fourth quarter 2019 approved members for all Medicare products grew 88% compared to the fourth quarter of 2018.

SANTA CLARA, California — February 20, 2020 — eHealth, Inc. (NASDAQ: EHTH), a leading private online health insurance exchange, announces today its financial results for the fourth quarter and fiscal year ended December 31, 2019.

Scott Flanders, chief executive officer of eHealth stated, "We ended the year on a strong note, delivering the best annual enrollment period in the company’s history and generating financial results that significantly exceeded our 2019 annual guidance across multiple metrics, including revenue, GAAP net income and adjusted EBITDA. We also significantly increased our Medicare enrollment volumes and the number of major medical Medicare applications submitted online through our platform compared to a year ago - a critical element of our Medicare growth strategy. I would like to emphasize that the high level of enrollment and revenue growth that we achieved in 2019 were accompanied by meaningful adjusted EBITDA and GAAP net income margin expansion compared to 2018. Looking ahead, we anticipate the momentum we have built over the past two years to continue into 2020, and we believe we are well-positioned to continue outpacing the overall Medicare market growth as a result of our strong consumer value proposition, the depth of our technology platform and our demand generation expertise."

During the fourth quarter of 2019, eHealth worked with an external corporate valuation consultant to enhance its approach to estimating the lifetime values of plans it sold and to incorporate statistical tools to increase the accuracy of these estimates with an emphasis on improving member retention forecasting.  Fourth quarter and full year 2019 financial results reflect the impact of the changes made to enhance eHealth's Medicare Advantage plan lifetime value forecasting model resulting from this project. Specifically, our fourth quarter and full year 2019 revenue each included a positive impact of $50.8 million from the change in estimate for expected cash commission collections relating to outstanding Medicare Advantage plans. Of this amount, $42.3 million is a change in estimate in expected cash commission collections for Medicare Advantage plans since we began selling such products through the third quarter of 2019.

Unless otherwise specifically indicated, the financial results discussed below include, where applicable, the $42.3 million impact (affected by tax for net income and net income per share) from the change in estimate of expected cash commission collections.



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The following information was filed by Ehealth, Inc. (EHTH) on Thursday, February 20, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ehealth, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Stockholders' Equity
Acquisition
Acquisition - Narrative (Details)
Acquisition - Purchase Price Allocation (Details)
Acquisition (Tables)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Schedule Of Future Minimum Obligations) (Details)
Commitments And Contingencies (Tables)
Debt
Debt (Details)
Equity
Equity (Narrative) (Details)
Equity (Schedule Of Fair Value Of Stock Options, Valuation Assumptions) (Details)
Equity (Schedule Of Option Activity Under Stock Plans) (Details)
Equity (Schedule Of Restricted Stock Unit Activity Under Stock Plans) (Details)
Equity (Schedule Of Shares Reserved) (Details)
Equity (Schedule Of Stock Plan Activity) (Details)
Equity (Schedule Of Stock-Based Compensation Expense) (Details)
Equity (Tables)
Fair Value Measurements
Fair Value Measurements (Earnout Activity) (Details)
Fair Value Measurements (Financial Assets And Liabilities) (Details)
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Changes In Valuation Allowance) (Details)
Income Taxes (Income Tax Rate Reconciliation Schedule) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits Schedule) (Details)
Income Taxes (Schedule Of Components Of Pre-Tax Income) (Details)
Income Taxes (Schedule Of Current And Deferred Income Taxes) (Details)
Income Taxes (Schedule Of Deferred Tax Assets, Net) (Details)
Income Taxes (Tables)
Leases
Leases (Narrative) (Details)
Leases (Operating Lease Maturities) (Details)
Leases (Supplemental Information) (Details)
Leases (Tables)
Net Income Per Share
Net Income Per Share (Schedule Of Anti-Dilutive Shares Excluded From Computation Of Net Income Per Share) (Details)
Net Income Per Share (Schedule Of Computation Of Basic And Diluted Net Income Per Share) (Details)
Net Income Per Share (Tables)
Restructuring
Restructuring (Details)
Restructuring (Tables)
Revenue
Revenue (Commission Revenue By Segment) (Details)
Revenue (Disaggregated Revenue) (Details)
Revenue (Narrative) (Details)
Revenue (Tables)
Segment And Geographic Information
Segment And Geographic Information (Details)
Segment And Geographic Information (Schedule Of Long-Lived Assets By Geographical Area) (Details)
Segment And Geographic Information (Schedule Of Revenue By Major Customers) (Details)
Segment And Geographic Information (Tables)
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Details)
Selected Quarterly Financial Data (Unaudited) (Tables)
Summary Of Business And Significant Accounting Policies
Summary Of Business And Significant Accounting Policies (Narrative) (Details)
Summary Of Business And Significant Accounting Policies (Policies)
Summary Of Business And Significant Accounting Policies (Property And Equipment) (Details)
Summary Of Business And Significant Accounting Policies (Tables)
Supplemental Financial Statement Information
Supplemental Financial Statement Information (Narrative) (Details)
Supplemental Financial Statement Information (Schedule Of Accounts Receivable) (Details)
Supplemental Financial Statement Information (Schedule Of Cash, Cash Equivalents And Restricted Cash) (Details)
Supplemental Financial Statement Information (Schedule Of Commissions Receivable) (Details)
Supplemental Financial Statement Information (Schedule Of Intangible Asset Future Amortization Expense) (Details)
Supplemental Financial Statement Information (Schedule Of Intangible Assets) (Details)
Supplemental Financial Statement Information (Schedule Of Other Assets) (Details)
Supplemental Financial Statement Information (Schedule Of Prepaid Expenses And Other Current Assets) (Details)
Supplemental Financial Statement Information (Schedule Of Property And Equipment) (Details)
Supplemental Financial Statement Information (Tables)
Ticker: EHTH
CIK: 1333493
Form Type: 10-K Annual Report
Accession Number: 0001333493-20-000021
Submitted to the SEC: Mon Mar 02 2020 12:24:14 PM EST
Accepted by the SEC: Mon Mar 02 2020
Period: Tuesday, December 31, 2019
Industry: Insurance Agents Brokers And Service

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