This week we are reading about eHealth’s fourth quarter results, Amerilife’s Executive Team, and the proposed Medicare Advantage payment rates.
eHealth, Inc. Announces Fourth Quarter 2019 and Fiscal Year 2019 | PR Newswire | February 20, 2020
eHealth, Inc., a leading private online health insurance exchange, announced its financial results for the fourth quarter and fiscal year ended December 31, 2019. 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.
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.”
Read the full press release on prnewswire.com here.
Amerilife Leverages Executive Team to Capitalize on Industry Growth and Opportunity | PR Newswire | February 18, 2020
AmeriLife Group, LLC, the national leader in marketing and distributing life, health and retirement solutions, today announced a strategic update to its executive leadership team, dedicating focus to both organic growth and acquisitions within distribution. Derek Richardson has been named Executive Vice President, Distribution Development, and Scotty Elliott has been named President, Life & Health Brokerage Distribution.
Read the full press release on prnewswire.com here.
Medicare Advantage plans to get less than 1% pay increase | Modern Healthcare | February 05, 2020
The CMS proposed increasing the baseline Medicare Advantage payment rates for 2021 by 0.93%, well below the 2.53% rate increase that plans got this year.
The agency also proposed new steps to reduce out-of-pocket drug costs for Part D beneficiaries, promote generic drug usage and allow enrollees to know more about their prescription drug costs in advance. The proposed rule also implements changes under the 21st Century Cures Act that allows people with end-stage renal disease to freely enroll in Advantage plans. Comments on the proposed changes are due March 6.
The CMS estimated that the proposed changes could save the federal government $4.4 billion over a decade. Much of those savings would stem from the Part D star ratings and Medicare Advantage changes, according to a fact sheet.