12/10/2014 | Press release | Archived content
MOUNTAIN VIEW, CA -- (Marketwired) -- 12/10/14 -- Today eHealth, Inc.(NASDAQ: EHTH)(eHealthInsurance.com), the nation's first and largest private online health insurance exchange, released data from the eHealth Price Index and a customer survey providing a snapshot of individual and family health insurance shopping trends from the first three weeks of the Affordable Care Act's current nationwide open enrollment period.
According to data published today, $315 was the average monthly premium for individual health insurance plans selected by eHealth shoppers not utilizing government subsidies between November 15 and December 5, 2014. This represents an increase of 16% compared to the average premium of $271 per month for 2014 plans selected over the course of the prior open enrollment period, which ran from October 2013 through March 20141.
As previously reported by eHealth, early shoppers during the prior open enrollment period tended to select plans with higher monthly premiums than shoppers who selected plans closer to the end of open enrollment. The average monthly premium for individual coverage reported by eHealth today represents an increase of 2% when compared to the average premium for 2014 individual health insurance plans selected by eHealth customers during the first half of the prior open enrollment period only ($309 for the period from October - December 2013)2.
While the data released by the company today does not reflect trends among consumers utilizing government subsidies, eHealth is also able to enroll subsidy-eligible consumers in the majority of states served by the federally-facilitated marketplace and in its home state of California.
In the first three weeks of the current open enrollment period (November 15 to December 5, 2014), eHealth also found:
"Open enrollment has begun and our Price Index data provides a first look at what consumers are choosing when shopping for health insurance outside of government exchanges," said Gary Lauer, Chief Executive Officer and Chairman of eHealth. "The figures we released today indicate that unsubsidized health insurance shoppers, which make up a considerable portion of the overall post-reform market, are currently trending toward plans with higher monthly premiums but lower annual deductibles."
"Certain studies released before open enrollment projected single-digit increases in health insurance premiums," Mr. Lauer continued. "While we're reporting a double-digit increase in average premiums for plans selected by consumers so far, these average increases are not as high as the year-over-year premium increases many consumers saw last year. Nonetheless, for many individuals and families, these are considerable costs to bear and so we advise consumers to explore all of their options to find the right health plan for their needs and budget."
The current nationwide open enrollment period for individual and family health insurance plans began on November 15, 2014 and is scheduled to continue through February 15, 2015. For many consumers, this period may be their only chance to apply for premium subsidies and enroll in the major medical individual and family health insurance coverage they need for 2015.
eHealth Price Index Preview for Open Enrollment
(Data from November 15 - December 5, 2014 with comparisons to the period from October 2013 - March 2014)
Health Plan Costs
Price Index Data for Select States
In California:
In Colorado:
In Florida:
In Illinois
In Maryland:
In Minnesota:
In Texas:
In Washington:
Plan Selection Data
Shopper Demographics
Survey Results: Shopper Trends and Insights
In addition to the plan cost and selection trends above, eHealth also released results from an ongoing voluntary survey of customers who contacted the eHealth Customer Care Center3. Results from this survey may provide additional insight into the factors motivating shoppers in the early weeks of the current open enrollment period.
Regarding their current health insurance coverage status:
When asked why they are shopping for coverage now, and invited to select all the choices that apply to their personal situation, survey respondents report that:
About the eHealth Price Index
eHealth is one of the few organizations with national source health insurance data that broadly reflects consumer buying patterns and purchase prices in the self-purchased individual and family health insurance market. eHealth's Price Index reports provide insights into the large segment of the individual and family health insurance market which may not qualify for or elect to use government subsidies, and which may shop for coverage through sources other than government-run exchanges.
eHealth's Price Index figures reported today are based solely on plans selected by consumers through eHealth between the dates of November 15 and December 5, 2014. These figures do not include data from individual or family health insurance shoppers who have applied for government subsidies or selected subsidy-eligible plans through their state government's health insurance exchange with the assistance of licensed agents from eHealth.
Data presented in eHealth's report is based solely on rates quoted for health insurance applications selected by consumers through the company's website in the specified time period. Figures have been rounded to the nearest full dollar or nearest full percentage point. The information provided here does not offer a comprehensive view of costs for all plans available through eHealth, through the market as a whole, or through government exchanges. Certain applications missing key data fields relevant for analysis may have been removed from the sample. For more information on the methods employed for the collection and analysis of data, please refer to the methodology section at ehealth.com/priceindex.
Notes:
1All price comparisons made with reference to average costs during the prior open enrollment period (October 2013 - March 2014) are calculated against figures published in eHealth's May 1, 2014Health Insurance Price Index report.
2 Price comparisons made with reference to average costs during the first half of the prior open enrollment period (October - December 2013) are calculated against figures published in eHealth's February 28, 2014Health Insurance Price Index report.
3 Survey analysis is based on 1,437 voluntary responses collected from the period November 15 through December 5, 2014.
About eHealth
eHealth, Inc.(NASDAQ: EHTH)operates eHealthInsurance.com, the Nation's first and largest private health insurance exchange where individuals, families and small businesses can compare health insurance products from leading insurers side by side and purchase and enroll in coverage online. eHealthInsurance offers thousands of individual, family and small business health plans underwritten by more than 200 of the nation's leading health insurance companies. eHealthInsurance is licensed to sell health insurance in all 50 states and the District of Columbia. eHealth, Inc. also provides powerful online and pharmacy-based tools to help Medicare beneficiaries navigate Medicare health insurance options, choose the right plan and enroll in select plans online through PlanPrescriber.com (www.planprescriber.com) and eHealthMedicare.com (www.eHealthMedicare.com).
For more health insurance news and information, visit the eHealth consumer blog: Get Smart - Get Covered or visit eHealth's Affordable Care Act Resource Center at www.eHealth.com/affordable-care-act.
Embedded Video Available: http://youtu.be/TZhUV1RvvOo_030400
For media inquiries, please contact:
Sande Drew
DMA Communications for eHealth, Inc.
(916) 207-7674
[email protected]
Brian Mast
eHealth, Inc.
(650) 210-3149
[email protected]
Source: eHealth, Inc.