SANTA
CLARA, Calif., Nov. 20,
2023 /PRNewswire/ -- eHealth, Inc. (Nasdaq: EHTH)
(eHealth.com), a leading online private health insurance
marketplace, today announced senior leadership changes and
reaffirmed guidance for the fiscal year ending December 31, 2023.
Chief Operating Officer and Chief Transformation
Officer, Roman Rariy, will depart eHealth at the end of
the year after nearly two years of service. Mr. Rariy will be
taking on a new role as Chief Executive Officer at a manufacturing
company.
Chief Marketing Officer, Michelle
Barbeau, has been appointed Chief Revenue Officer effective
January 1st, 2024 and will
assume the responsibility for Sales, in addition to her Marketing
responsibilities, in the newly formed Revenue Organization.
"Roman joined eHealth to focus on mobilizing and driving the
execution of our value creation plan, managing our cost
transformation, and bringing a keen focus on operational excellence
across the Company. Throughout 2023, eHealth successfully
implemented the remaining major components of our transformation
plan and is now focusing on initiatives supporting continued
profitable growth and business diversification. We wish Roman well
in his next role," commented Fran
Soistman, Chief Executive Officer and Director at
eHealth.
"As eHealth embarks on a new chapter of growth, I am pleased to
announce Michelle Barbeau's
appointment as our Chief Revenue Officer. Michelle's leadership and
dedication to our customers have been instrumental in driving our
success. In the past year, she has played a pivotal role in
transforming our Marketing organization and its effectiveness.
Under Michelle's leadership, eHealth has launched a rebranding
strategy that aligns with our core values and future goals,"
Fran Soistman continued. "I remain
confident in eHealth's ability to achieve our growth and margin
expansion goals, and create meaningful shareholder value, and I'm
excited for new opportunities to enhance our carrier partnerships
and further enhance our customer experience."
Based on information available as of November 20, 2023, eHealth reaffirms its guidance
for the full year ending December 31,
2023, as discussed on its November 8,
2023 earnings call. These expectations are forward-looking
statements and we assume no obligation to update these statements.
Actual results may be materially different and are affected by the
risks and uncertainties identified in this press release and in
eHealth's annual and quarterly reports filed with the Securities
and Exchange Commission.
About eHealth
We're Matchmakers. For over 25 years,
eHealth has helped millions of Americans find the healthcare
coverage that fits their needs at a price they can afford.
Consumers can visit our health insurance marketplace at eHealth.com
or call us to speak with a licensed insurance agent at
1-833-964-1202, TTY 711. As a leading independent licensed
insurance agency and advisor, eHealth offers access to over 180
health insurers, including national and regional companies.
For more information, visit eHealth.com or follow us on
LinkedIn, Facebook, Instagram, and X. Open positions can be
found on our career page.
Forward-Looking Statements
This press release contains statements that are forward-looking
statements as defined within the Private Securities Litigation
Reform Act of 1995. These include statements regarding our
expectations regarding our business, operations, initiatives and
strategies, including our value creation and cost transformation
plans, business diversification, and market opportunity; our
expectations regarding our financial performance, growth and
profitability; our expectations regarding the impact of investments
in our marketing organization and our rebranding strategy; our
growth and margin expansion goals; enhancements to our carrier
partnerships and customer experience, our 2023 annual guidance for
total revenue, GAAP net loss, adjusted EBITDA and operating cash
flow; and other statements regarding our future operations,
financial condition, prospects and business strategies.
These forward-looking statements are inherently subject to
various risks and uncertainties that could cause actual results to
differ materially from the statements made. In particular, we are
required by Accounting Standards Codification 606 — Revenue from
Contracts with Customers to make numerous assumptions that are
based on historical trends and our management's judgment. These
assumptions may change over time and have a material impact on our
revenue recognition, guidance, and results of operations. Please
review the assumptions stated in this press release carefully.
The risks and uncertainties that could cause our results to
differ materially from those expressed or implied by such
forward-looking statements include, but are not limited to, our
ability to retain existing members and enroll new members during
the annual healthcare open enrollment period, the Medicare annual
enrollment period, the Medicare Advantage open enrollment period
and other special enrollment periods; changes in laws, regulations
and guidelines, including in connection with healthcare reform or
with respect to the marketing and sale of Medicare plans;
competition, including competition from government-run health
insurance exchanges and other sources; the seasonality of our
business and the fluctuation of our operating results; our ability
to accurately estimate membership, lifetime value of commissions
and commissions receivable; changes in product offerings among
carriers on our ecommerce platform and changes in our estimated
conversion rate of an approved member to a paying member and the
resulting impact of each on our commission revenue; the
concentration of our revenue with a small number of health
insurance carriers; our ability to execute on our growth strategy
and other business initiatives; changes in our management and key
employees; our ability to hire, train, retain and ensure the
productivity of licensed insurance agents, or benefit advisors, and
other employees; exposure to security risks and our ability to
safeguard the security and privacy of confidential data; our
relationships with health insurance carriers; the success of our
carrier advertising and sponsorship program; our success in
marketing and selling health insurance plans and our unit cost of
acquisition; our ability to effectively manage our operations as
our business evolves and execute on our transformation plan and
other strategic initiatives; the need for health insurance carrier
and regulatory approvals in connection with the marketing of
Medicare-related insurance products; changes in the market for
private health insurance; consumer satisfaction of our service and
actions we take to improve the quality of enrollments; changes in
member conversion rates; changes in commission rates; our ability
to sell qualified health insurance plans to subsidy-eligible
individuals and to enroll subsidy-eligible individuals through
government-run health insurance exchanges; our ability to maintain
and enhance our brand identity; our ability to derive desired
benefits from investments in our business, including membership
growth and retention initiatives; reliance on marketing partners;
the impact of our direct-to-consumer mail, email, social media,
telephone and television marketing efforts; timing of receipt and
accuracy of commission reports; payment practices of health
insurance carriers; dependence on our operations in China; the restrictions in our debt
obligations; the restrictions in our investment agreement with
convertible preferred stock investors; our ability to raise
additional capital; compliance with insurance, privacy,
cybersecurity and other laws and regulations; the outcome of
litigation in which we may from time to time be involved; the
performance, reliability and availability of our information
technology systems, ecommerce platform and underlying network
infrastructure, including any new systems we may implement; public
health crises, pandemics, natural disasters, changing climate
conditions and other extreme events; general economic conditions,
including inflation, recession, financial, banking and credit
market disruptions; and our ability to affectively administer our
self-insurance program. Other factors that could cause operating,
financial and other results to differ are described in our most
recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K
filed with the Securities and Exchange Commission and available on
the Investor Relations page of our website at
http://www.ehealthinsurance.com and on the Securities and Exchange
Commission's website at http://www.sec.gov.
All forward-looking statements in this press release are based
on information available to us as of the date hereof, and we do not
assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made, except as required by
law.
Media inquiries, please contact: pr@ehealth.com
Investor Relations inquiries, please
contact:
Kate Sidorovich,
CFA
Senior Vice President, Investor Relations & Strategy
investors@ehealth.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ehealth-inc-announces-senior-leadership-changes-and-reaffirms-full-year-fiscal-2023-guidance-301993873.html
SOURCE eHealth, Inc.