Sunday, 12 July 2020

eHealth, Inc. Announces Third Quarter 2019 Results



eHealth, Inc. Announces Third Quarter 2019 Results

SANTA CLARA, Calif., Oct. 24, 2019 /PRNewswire/ --
Third Quarter 2019 Overview
  • Revenue for the third quarter of 2019 was $69.9 million, a 72% increase compared to $40.8 million for the third quarter of 2018.
  • GAAP net loss for the third quarter of 2019 was $11.0 million compared to net loss of $9.0 million for the third quarter of 2018.
  • Adjusted EBITDA was $(18.8) million for the third quarter of 2019 compared to $(6.9) million for the third quarter of 2018.
  • Net cash used in operating activities for the third quarter of 2019 was $15.9 million compared to $4.9 million for the third quarter of 2018.

Saturday, 11 July 2020

eHealth Bringing 500 Jobs to Indianapolis - Inside INdiana Business



eHealth Bringing 500 Jobs to Indianapolis

INDIANAPOLIS - A California-based private online health insurance exchange has set up operations in Indianapolis. eHealth Inc. (Nasdaq: EHTH) has announced plans to invest more than $10 million to establish its Eastern U.S. Technology and Operations Headquarters in Indy and get up to 500 jobs by the end of 2023. The Indiana Economic Development Corp. says the company has already hired 125 Hoosiers at its new location on the city's north side.
eHealth is currently occupying more than 56,000 square feet of state across two floors of an office building at 9190 Priority Way West Drive. The company has signed a lease to take over the entire building, covering more than 81,000 square feet, by November 2022.

Friday, 10 July 2020

Company fined for mailing misleading letters to elderly | Local | ifallsjournal.com



Company fined for mailing misleading letters to elderly | Local


The Minnesota Department of Commerce has assigned a civil penalty of $50,000 and issued a cease and desist order to eHealthInsurance Services, Inc., a California-based health insurance agency that mailed more than 600,000 misleading letters to elderly Minnesotans.
eHealthInsurance Services, an agency based in Gold River, Calif., purchased the domain name “Medicare.com” and, using that name, mailed more than 600,000 letters to Minnesotans warning about the discontinuation of certain Medicare plans and offering services to obtain a new plan. The company prominently branded the letters and their website with “Medicare.com” and failed to include a sufficiently noticeable statement that it was not, in any manner, connected with the government, Medicare or Medicaid.
“Our investigators acted swiftly to bring a stop to the misleading marketing materials from eHealthInsurance,” said Steve Kelley, commissioner of the Minnesota Department of Commerce. “We began the investigation upon receiving calls from concerned Minnesotans, and we are grateful for their vigilance and quick share in alerting us to the situation.”

Thursday, 9 July 2020

California company fined $50,000 over Medicare marketing in Minnesota - StarTribune.com



California company fined $50,000 over Medicare marketing in Minnesota

The state Commerce Department said it has issued a $50,000 civil penalty plus a cease-and-desist order to a California company in connection with letters to Minnesotans about Medicare health insurance options that it said were misleading.
Commerce said Tuesday that a company called eHealthInsurance Services Inc. purchased the domain name “Medicare.com” and mailed more than 600,000 letters that used the website address and offered services for picking a new insurance plan.
Last year, about 300,000 people across the state were forced to shop for new coverage with the elimination of Medicare Cost health plans, which provided government benefits via private insurers.
“Respondent mailed misleading correspondence regarding the discontinuation of Medicare Cost plans to Minnesota consumers that reference the federal Medicare program on the envelope and in the correspondence,” Commerce said in a consent order dated March 26.
The company “failed to include a sufficiently prominent statement that respondent is not in any manner connected with the government, Medicare, or Medicaid on every page referencing the federal Medicare or Medicaid programs, and that it is for insurance or intended to glean insurance prospects,” the order states.

Wednesday, 8 July 2020

eHealthInsurance, Campbell County Health each fall for W-2 phishing scams | Healthcare IT News



eHealthInsurance, Campbell County Health each fall for W-2 phishing scams

Employees of Wyoming-based Campbell County Health and eHealthInsurance are the latest victims of a W-2 phishing scam, the organizations announced last week.
The Social Security numbers and W-2 information of around 1,400 Campbell Country employees were released on Jan. 25 by an employee, to a hacker impersonating a hospital executive, officials said. The hack only affected Campbell County Health employees, not patients.
Local law enforcement and a cybersecurity response team were contacted. Both are investigating the incident.

Tuesday, 7 July 2020

eHealthInsurance Review 2020 - Affordable health insurance



eHealthInsurance Review 2020 - Affordable health insurance


For those who purchase health insurance through an employer, the process involves selecting medical coverage from a few options. If your employer does not offer health insurance, you’re unemployed or your self-employed, finding quality, affordable health insurance can be overwhelming. Fortunately, there are resources available to help find individual health insurance.

In this article, we’ll look at one of the best online resources that will enable you to quickly and conveniently compare online the cost of several individual health insurance options. Best of all, you can compare health insurance options with no obligation and without providing any personal information

Monday, 6 July 2020

Cigna Corporation - Consensus Indicates Potential 32.0% Upside



Cigna Corporation - Consensus Indicates Potential 32.0% Upside

Cigna Corporation found humorous ticker (CI) have now 24 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target ticket ranges between 279 and 190 with a mean TP of 244.75. Given that the stocks previous close was at 185.48 this now indicates there is a potential upside of 32.0%. The 50 day MA is 194.2 and the 200 spirited average now moves to 192.67.

Sunday, 5 July 2020

Oscar Insurance Raises $225 Million | ThinkAdvisor



Oscar Insurance Raises $225 Million


A health insurer backed by Google’s venture capital affiliate says it has raised $225 million more funding.
The insurer, Oscar Insurance, says it now has a total of about 420,000 enrollees in individual major medical coverage, Medicare Advantage plans, and small-group health plans.
The company reported it has about $2 billion in annual revenue, or about $5,000 in revenue per year per enrollee.

(Related:  Alphabet to Help Oscar Move Into Medicare Advantage Market)

The New York-based company came to life in 2012, with support from private investors, rather than from the ill-fated Affordable Care Act Consumer Operated and Oriented Plan funding program.
The organizers said they wanted to bring modern technology and insurance ideas to the health insurance market.

Saturday, 4 July 2020

Covid-19 a great ad for health insurance, says ManipalCigna chief Sikdar - The Hindu BusinessLine



Covid-19 a great ad for health insurance, says ManipalCigna chief Sikdar

ManipalCigna Health Insurance Company Ltd (ManipalCigna), a standalone private health insurer, expects to maintain its growth momentum and clock at least 20 per cent growth in gross written premium (GWP) this fiscal despite the Covid-19 induced lockdown affecting business in the first two months, a top official said.
“Because of the expected increase in health insurance demand due to Covid-19, I am optimistic that growth will hold on for us and we will continue to grow like the last couple of years. To have a double digit growth in this kind of environment is not bad at all,” Praasun Sikdar, Managing Director & CEO, ManipalCigna, told BusinessLine in an interview.
He highlighted that the company was not changing its business growth aspirations due to the two months of lockdown.
In 2018-19, ManipalCigna’s GWP stood at about ₹577 crore, up 19 per cent over the previous year. In 2018-19, this health insurer had achieved GWP growth of 40 per cent.
Sikdar said that Covid-19 has been a great advertisement for health insurance and this has also significantly increased the awareness level among consumers on the growing medical inflation in the country.