Companies · EHTH
eHealth, Inc.
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Latest analysis
Updated Nov 5, 2026
eHealth Q3 2026: Medicare Approved Members Plunge 59% as Lifetime Advisory Pivot Pressures Near-Term Revenue
eHealth's deliberate pull-back in variable marketing spend drove a 59% decline in Medicare approved members and a 60% drop in total Q3 2026 revenue versus the prior year, as the company repositions around a lifetime advisory model that concentrates enrollment investment in Q1 and Q4. Cost discipline delivered an 85% year-over-year improvement in nine-month operating cash flow, but the Medicare segment swung to a $12.7 million gross loss in Q3 2026 versus a $1.2 million loss in Q3 2025, underscoring that the model transition extracts a steep near-term earnings penalty. The Nasdaq minimum bid price deficiency notice received October 14, 2026 — with a compliance deadline of April 12, 2027 — adds a capital-markets risk layer that constrains strategic optionality precisely when the company needs flexibility to invest in AEP and diversification initiatives.
Tone: cautiousRevenue
$554M
EHTH 10-K · FY 2025
Employees
1,665
Revenue FY2024
$532.4M
Founded
1997
Profile
EHTH 10-K Item 1 · Feb 26, 2026eHealth, Inc. is a leading private health insurance marketplace operating an omnichannel platform that enables consumers to research, compare, and enroll in health insurance plans. The company earns commission revenue from health insurance carriers rather than from consumers directly, and does not take on underwriting risk. Its two reportable segments are Medicare and Employer and Individual.
Read filing description ↓ Collapse description ↑
eHealth, Inc. and its subsidiaries is a leading private health insurance marketplace with a technology and service platform that provides consumer engagement, education and health insurance enrollment solutions. Our mission is to expertly guide consumers through their health insurance enrollment and related options, when, where, and how they prefer. Our platform leverages technology to solve a critical problem in a large and growing market by aiding consumers in what has traditionally been a complex, confusing and opaque health insurance purchasing process. Our omnichannel consumer engagement platform differentiates our offering from our competitors and enables consumers, or beneficiaries, to use our services through our self-service online platform, by telephone with a licensed and trained insurance agent, or benefit advisor, or through a hybrid online assisted interaction that includes live agent chat and co-browsing capabilities. We have created a consumer-centric marketplace that offers consumers a broad choice of insurance products that includes thousands of Medicare Advantage, Medicare Supplement, Medicare Part D prescription drug, individual, family, small business, and other ancillary health insurance products from over 180 health insurance carriers nationwide, including approximately 50 Medicare health insurance carriers. Our plan recommendation tool curates this broad plan selection by analyzing beneficiaries' health-related information against plan data for insurance coverage fit. This tool is supported by a unified data platform and is available to our ecommerce consumers and our licensed benefit advisors. We strive to be the most trusted, unbiased, transparent partner to consumers in their journeys through the health insurance market.
Primary products
- Medicare Advantage plans
- Medicare Supplement plans
- Medicare Part D prescription drug plans
- Individual and family health insurance plans
- Small business health insurance plans
- Individual Coverage Health Reimbursement Arrangements (ICHRAs)
Business segments
End markets
Geographies
Named customers
Named competitors
“Our omnichannel consumer engagement platform differentiates our offering from our competitors and enables consumers, or beneficiaries, to use our services through our self-service online platform, by telephone with a licensed and trained insurance agent, or benefit advisor, or through a hybrid online assisted interaction that includes live agent chat and co-browsing capabilities.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue increased from $532.4 million in 2024 to $554.0 million in 2025, driven by growth in commission revenue partially offset by a decline in other revenue.
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