eHealth Releases Health Insurance Trends: A Comprehensive Bi-Annual Study of the Health Care Industry
Rhea-AI Summary
eHealth, Inc. (NASDAQ: EHTH) released its biannual Health Insurance Trends report, highlighting key consumer preferences and challenges in the health insurance market. Notably, 83% of Medicare beneficiaries favor government negotiation for prescription drug costs. The report indicates a significant online shift for new Medicare beneficiaries, with 69% desiring options beyond government marketplaces. It reflects insights from over 6,400 responses and offers valuable data for industry leaders and policymakers.
Positive
- Report reflects preferences of 83% of Medicare beneficiaries for government action on drug costs.
- Survey indicates 69% of new Medicare beneficiaries want flexible options beyond government marketplaces.
Negative
- Only 50% of beneficiaries support added costs for expanded Medicare benefits.
News Market Reaction – EHTH
In the trading session that priced this news, EHTH declined 2.82%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SANTA CLARA, Calif., Nov. 4, 2021 /PRNewswire/ -- Today eHealth, Inc. (NASDAQ: EHTH) published a new installment of its biannual Health Insurance Trends report, offering a comprehensive look at the state of the market in a period of transformation and new possibilities. The report presents findings of interest to consumers, elected representatives and policymakers, insurance industry leaders, and market analysts. Key findings include the following.
What Medicare beneficiaries want – and don't want – from government:
83% want the federal government to take action to lower the cost of prescription drugs by negotiating with pharmaceutical companies. This is true across political lines, including strong majorities of Democrats (93% ), Republicans (73% ), and Independents (84% ).92% want to see dental, vision, and hearing benefits added to traditional Medicare coverage, but only50% feel the same if it would add to their costs.- Among Medicare beneficiaries, majorities of Republicans (
56% ), Independents (56% ) and Democrats (51% ) say Medicare should continue to be operated through public/private cooperation. Only16% overall want the government alone to run the program.
How COVID's impact on consumers and insurers is more nuanced than you may think:
64% would get a COVID booster shot, but willingness declines to55% if shots are recommended 1-2 times per year.76% of Democrat voters feel most businesses should be able to refuse service to unvaccinated Americans, but fewer than half (49% ) of Black Americans agree.38% of insurers have already reduced voluntarily-expanded COVID coverage, or plan to do so. However, only12% plan to raise premiums as a result of the pandemic.
How health insurance companies could do better addressing the needs of diverse communities:
60% of Hispanic and56% of Black respondents say they've had a surprise medical bill in the past 12 months, as do54% of all women. By comparison,46% of white respondents and45% of men say they've had a surprise medical bill in the past year.- When asked if they feel the health insurance options available to them address the specific medical needs of their racial or ethnic community, Hispanic respondents are least likely to say yes (
41% ), followed by Asian (45% ), and Black (46% ) respondents. By contrast,58% of white respondents answered yes.
How the opportunity – and challenge – facing organizations serving health insurance consumers online is constantly evolving:
- With an estimated 10,000 new Medicare beneficiaries every day, the number one place they go to learn about their Medicare coverage options is online, and
69% want the freedom to look beyond government-run marketplaces to shop for, compare, and enroll in coverage. - When it comes to health care innovation and technology, more than half (
52% ) of general population respondents say private enterprise does a better job than government. Only18% think government does a better job.
Read the full report for deeper analysis and additional insights.
eHealth's report is compiled from more than 6,400 anonymous responses to surveys of the general population and of Medicare beneficiaries. It also includes findings from a survey of more than 15 representatives from health insurance companies with whom eHealth has a relationship. Methodology information is provided in the report.
About eHealth
eHealth, Inc. (NASDAQ: EHTH) operates a leading health insurance marketplace at eHealth.com and eHealthMedicare.com with technology that provides consumers with health insurance enrollment solutions. Since 1997, we have connected more than 8 million members with quality, affordable health insurance, Medicare options, and ancillary plans. Our proprietary marketplace offers Medicare Advantage, Medicare Supplement, Medicare Part D prescription drug, individual, family, small business and other plans from over 200 health insurance carriers across fifty states and the District of Columbia.
Media inquiries, please contact: pr@ehealth.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/ehealth-releases-health-insurance-trends-a-comprehensive-bi-annual-study-of-the-health-care-industry-301416588.html
SOURCE eHealth, Inc.