EHTH on Nasdaq

eHealthInsurance

Logo: eHealthInsurance, Public domain, via Wikimedia Commons4

Private online marketplace for health insurance

eHealth, or eHealthInsurance Services, Inc., is a publicly traded online marketplace (through holding company eHealth, Inc.) that specializes in health insurance serving as a licensed health insurance agency and advisor. The company helps people compare health insurance plans from over 180 insurance carriers, including Medicare coverage options such as Medicare Advantage, Medigap, and prescription drug plans.3 Its shares trade on Nasdaq under the symbol EHTH.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

1997Founded1

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  • TickerEHTH on Nasdaq1
  • Industryinsurance1
  • HeadquartersSanta Clara1
  • Websitewww.ehealthinsurance.com
  • Incorporated inDE5
  • Business address9190 Priority Way West Dr., Suite 110, Indianapolis, In 462405
  • Filer categoryAccelerated filer, Smaller reporting company5

eHealth, or eHealthInsurance Services, Inc., is a publicly traded online marketplace (through holding company eHealth, Inc.) that specializes in health insurance serving as a licensed health insurance agency and advisor. The company helps people compare health insurance plans from over 180 insurance carriers, including Medicare coverage options such as Medicare Advantage, Medigap, and prescription drug plans.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

43.5%Gross margin8
12.0%Operating margin8
7.2%Net margin8
4.1%Revenue growth, 20258
6.8%Return on equity8
0.19×Debt to equity8
-$27.6MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Commission Members Approved During Current Period brought in 75% of the revenue eHealthInsurance broke down this way in fiscal 2025.

  1. Commission Members Approved During Current Period$444.7M875%up 4% from 2024
  2. Product and Service, Other$56.1M89%down 21% from 2024
  3. Commission Members Approved In Prior Periods$44.4M88%up 95% from 2024
  4. Ancillaries$19.2M83%up 78% from 2024
  5. Small Business$11.1M82%down 4% from 2024
  6. Commission Revenue From Renewals$8.9M81%down 7% from 2024
  7. Individual and Family$3.8M81%down 54% from 2024
  8. Commission Bonus$3.0M81%down 17% from 2024
Products and services by year
Products and services20242025
Commission Members Approved During Current Period$429.4M$444.7M
Product and Service, Other$70.8M$56.1M
Commission Members Approved In Prior Periods$22.7M$44.4M
Ancillaries$10.8M$19.2M
Small Business$11.5M$11.1M
Commission Revenue From Renewals$9.6M$8.9M
Individual and Family$8.4M$3.8M
Commission Bonus$3.6M$3.0M

Business segments

Medicare brought in 96% of the revenue eHealthInsurance broke down this way in fiscal 2025.

  1. Medicare$531.2M896%up 6% from 2024
  2. Employer And Individual$22.8M84%down 28% from 2024
Business segments by year
Business segments20242025
Medicare$500.6M$531.2M
Employer And Individual$31.8M$22.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue0¢$1.3M
  • Research and development2¢$13.8M
  • Other costs87¢$480.1M
  • Income tax3¢$18.7M
  • Profit7¢$40.0M

Out of $554.0M in revenue.8

Financial statements

Revenue91011128$554.0M in 2025+9% since 2019
0$200.0M$400.0M$600.0M2019: $506.2M$506.2M20192020: $582.8M$582.8M2020+15%2021: $538.2M$538.2M2021−8%2022: $405.4M$405.4M2022−25%2023: $452.9M$452.9M2023+12%2024: $532.4M$532.4M2024+18%2025: $554.0M$554.0M2025+4%
Gross profit128$240.8M in 2025+51% since 2023
0$100.0M$200.0M$300.0M2023: $159.2M$159.2M20232024: $208.5M$208.5M2024+31%2025: $240.8M$240.8M2025+15%
Operating income91011128$66.5M in 2025−18% since 2019
-$200.0M-$100.0M0$100.0M2019: $81.4M$81.4M20192020: $53.3M$53.3M2020−34%2021: -$125.6M-$125.6M20212022: -$102.7M-$102.7M2022−18%2023: -$29.1M-$29.1M2023−72%2024: $23.6M$23.6M20242025: $66.5M$66.5M2025+182%
Net income91011128$40.0M in 2025−40% since 2019
-$150.0M-$100.0M-$50.0M0$50.0M$100.0M2019: $66.9M$66.9M20192020: $45.5M$45.5M2020−32%2021: -$104.4M-$104.4M20212022: -$88.7M-$88.7M2022−15%2023: -$28.2M-$28.2M2023−68%2024: $10.1M$10.1M20242025: $40.0M$40.0M2025+298%

Every line of the income statement as filed: the last 2 fiscal years, latest first.8

Period ending2025-12-312024-12-31
Total revenue$554.0M$532.4M
Marketing and advertising$181.2M$192.6M
Customer care and enrollment$162.9M$163.4M
Technology and content$51.8M$53.5M
General and administrative$89.6M$89.8M
Impairment, restructuring and other charges$2.0M$9.5M
Total operating costs and expenses$487.5M$508.8M
Income from operations$66.5M$23.6M
Interest expense-$10.8M-$11.2M
Other income, net$3.0M$6.9M
Income before income taxes$58.7M$19.3M
Provision for income taxes$18.7M$9.3M
Net income$40.0M$10.1M
Preferred stock dividends-$23.6M-$22.2M
Change in preferred stock redemption value-$26.8M-$22.8M
Net loss attributable to common stockholders-$10.4M-$35.0M
Basic (in dollars per share)-$0.34-$1.19
Diluted (in dollars per share)-$0.34-$1.19
Basic (in shares)30.5M shares29.3M shares
Diluted (in shares)30.5M shares29.3M shares
Unrealized holding gain (loss) on available for sale debt securities, net of tax-$16.0K$55.0K
Foreign currency translation adjustments$188.0K-$207.0K
Comprehensive income$40.2M$9.9M

Compare eHealthInsurance with another company

Corporate structure

eHealthInsurance sits at the top of its group. 5 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of eHealthInsurance

  • AQR CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on eHealthInsurance, latest Aug 13, 2026 (2 filings since May 14, 2026)
  • BlackRock Filed SCHEDULE 13G/A on eHealthInsurance, latest Jul 28, 2026 (7 filings since Jan 28, 2022)
  • 8 KNOTS MANAGEMENT, LLC Filed SCHEDULE 13G/A on eHealthInsurance, latest Apr 10, 2026 (6 filings since Feb 14, 2023)
  • Palo Alto Investors LP Filed SCHEDULE 13G on eHealthInsurance, latest Feb 17, 2026 (4 filings since Feb 14, 2022)
  • Nantahala Capital Management, LLC Filed SCHEDULE 13G on eHealthInsurance, latest Nov 14, 2025 (3 filings since Nov 14, 2024)
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on eHealthInsurance, latest Oct 30, 2025 (7 filings since Feb 9, 2022)
  • Goldman Sachs Filed SCHEDULE 13G/A on eHealthInsurance, latest Aug 14, 2025 (4 filings since Feb 7, 2023)
  • Findell Capital Partners LP Filed SC 13G/A on eHealthInsurance, latest Nov 14, 2024 (2 filings since Dec 19, 2023)
  • MILLENNIUM MANAGEMENT LLC Filed SC 13G/A on eHealthInsurance, latest Jan 25, 2024 (4 filings since Sep 26, 2022)
  • H.I.G.-GPII, Inc. Filed SC 13D/A on eHealthInsurance, latest Jul 10, 2023
  • Ruffer LLP Filed SC 13G on eHealthInsurance, latest Feb 2, 2023
  • Starboard Value LP Filed SC 13D/A on eHealthInsurance, latest Nov 15, 2022 (2 filings since Jan 7, 2022)
  • eHealthInsurance Santa Clara
    • Amplify Engagement Solutions Insurance Agency, LLC Subsidiary · Delaware, United States
    • eHealth China (Xiamen) Technology Co., Ltd. Subsidiary · China
    • eHealth China, Inc. Subsidiary · Delaware, United States
    • eHealthInsurance Services, Inc. Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What eHealthInsurance reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Leasehold improvements$3.5M8 Dec 31, 2025$3.4M8 Dec 31, 2024+1.5%
Property and equipment, before depreciation$14.3M8 Dec 31, 2025$13.5M8 Dec 31, 2024+5.6%
Accumulated depreciation$9.7M8 Dec 31, 2025$9.1M8 Dec 31, 2024+7.3%
Property and equipment, net$4.5M8 Dec 31, 2025$4.4M8 Dec 31, 2024+2.1%
Operating-lease assets (leased space)$8.4M8 Dec 31, 2025$12.1M8 Dec 31, 2024−30.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$73.7M8 Dec 31, 2025$39.2M8 Dec 31, 2024+88.1%
Marketable securities, current$3.5M8 Dec 31, 2025$43.0M8 Dec 31, 2024−91.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$17.2M8 Dec 31, 2025$17.2M8 Dec 31, 20240%

Properties, in its own words

Our corporate headquarters are located in Indianapolis, Indiana. In addition to our corporate headquarters, we currently lease several other office spaces around the country. During 2022, we announced a remote first workplace model in the United States, meaning that, except for those employees whose job responsibilities require in-office work, none of our employees are required to work at the office. As a result, we have closed certain spaces at our leased facilities. We also occupy leased office space in Xiamen, China which supports our technology and content, customer care and enrollment, marketing and advertising and general and administrative operations.

We believe that our facilities are adequate to meet our needs for the immediate future, and that should we need additional physical office space, suitable additional space will be available in the future.

Item 2 of the 10-K filed Feb 26, 2026.17

The story

eHealth, Inc. was founded in 1997. The founder, Vip Patel, started the company in Silicon Valley after a personal experience getting food poisoning and lacking health insurance.

In 2006, the company became a public company via an initial public offering. The company opened at the NASDAQ exchange with $14 a share.

In 2010, eHealth acquired PlanPrescriber, Inc. for $28.7 million in cash. PlanPrescriber provides tools to help people choose the right Medicare plan.

In 2013, eHealth, along with other "web brokers", signed deals with Healthcare.gov to enroll subsidy-eligible consumers in the newly approved health plans offered through the Patient Protection and Affordable Care Act.

In 2014, eHealth acquired the Medicare.com domain name for $4.8 million.

In May 2016, the company appointed Scott Flanders, a director of the company since 2008, as CEO. Former CEO Gary Lauer continued in an advisory role through the end of 2016.

In August 2016, eHealth announced that it had insured 5 million people..

In 2018, eHealth acquired GoMedigap, a consumer acquisition and engagement electronic platform tailored to Medigap insurance.

Read the full text

In 2019 eHealth announced the development of an Eastern Headquarters in Indianapolis, Indiana.

In 2020, eHealth announced its follow-on public offering of 1,800,000 shares, priced at $115/share, of its common stock, designed to raise an additional $207M. Three days later they announced the closing of the offering, with the 275,000 share option also having been exercised, raising a net proceeds of approximately $227.5 million after deducting underwriting discounts and commissions and the estimated expenses of the offering.

In 2021, eHealth appointed Fran Soistman as CEO. Former CEO Scott Flanders continued in an advisory role through the end of 2021.

In August 2022, eHealth announced that it had begun offering Individual Coverage Health Reimbursement Arrangement (ICHRA) products and services to employer customers as part of its employer-facing benefits platform. The company stated that the offering allowed employers to provide defined contributions toward employees’ individual health insurance purchases rather than traditional group coverage.

In November 2022, eHealth marked its 25th anniversary since its founding in 1997 as an online health insurance marketplace. The company reported that it had connected millions of consumers with individual, family, and Medicare insurance plans through its platform over that period.

In 2023, eHealth introduced a refreshed brand identity and a new consumer-facing spokesperson named “Eve” as part of its marketing strategy for its Medicare and individual insurance platforms. The rebranding was presented as part of efforts to simplify consumer engagement with its insurance comparison tools.

In January 2025, eHealth launched “Iris,” an employer-focused platform designed to support administration of ICHRA-based health benefits. The system was positioned as an end-to-end tool for employers to manage contributions and employee plan selection in the individual insurance market. In April 2025, the company introduced an artificial intelligence–based voice assistant named “Alice” to support customer service interactions and insurance enrollment assistance.

In July 2025, eHealth announced the appointment of Derrick Duke as chief executive officer, succeeding Fran Soistman, who retired from the role. The leadership transition was reported in financial press coverage of the company’s restructuring and strategic focus on Medicare and employer health benefits.

In February 2026, eHealth stated that it was shifting its customer service model to what it described as “lifelong guidance” and continuous support for consumers beyond initial enrollment periods. The company indicated that this approach was intended to emphasize ongoing plan optimization and assistance rather than one-time insurance enrollment transactions.

From Wikipedia’s article on EHealthInsurance, shared under CC BY-SA 4.0.6

Leadership

Who has led eHealthInsurance, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (39)

Products and brands

  • health insurance

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Amplify Engagement Solutions Insurance Agency, LLC Delaware7
  • eHealth China (Xiamen) Technology Co., Ltd. China7
  • eHealth China, Inc. Delaware7
  • eHealthInsurance Services, Inc. Delaware7

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 4, 20268-K Results of operations66
  2. Jun 25, 20268-K Executive or director change; Shareholder vote67
  3. May 6, 20268-K Results of operations; Executive or director change68
  4. Mar 31, 20268-K Executive or director change69
  5. Feb 25, 20268-K Results of operations70
  6. Jan 6, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation71
  7. Dec 18, 20258-K Bylaws or fiscal year changed; Regulation FD disclosure72
  8. Nov 5, 20258-K Results of operations73
  9. Oct 7, 20258-K Entered a material agreement; New debt or obligation; Regulation FD disclosure74
  10. Sep 19, 2025New chief executive Derrick A. Duke becomes CEO18
  11. Sep 19, 20258-K Executive or director change75
  12. Aug 6, 20258-K Results of operations76
  13. Jul 29, 20258-K Executive or director change; Regulation FD disclosure77
  14. Nov 4, 2021New chief executive Francis S. Soistman Jr. becomes CEO19
  15. Aug 4, 2016New chief executive Scott N. Flanders becomes CEO20
  16. Oct 12, 2006New chief executive Gary L. Lauer becomes CEO21
  17. 1997Founded Founded1

Calendar

Coming up

  1. Nov 4, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($1.45) a share, on Nov 5, 2025.78

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results66
  2. May 6, 2026Reported quarterly or annual results68
  3. Feb 25, 2026Reported quarterly or annual results70
  4. Nov 5, 2025Reported quarterly or annual results73
  5. Aug 6, 2025Reported quarterly or annual results76
  6. May 7, 2025Reported quarterly or annual results79
  7. Feb 26, 2025Reported quarterly or annual results80
  8. Nov 6, 2024Reported quarterly or annual results81

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

415 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 56 major events, 250 insider forms, 45 large holders, 44 other. The latest 20:

  1. Oct 13, 20264 EDGAR
  2. Oct 13, 20264 EDGAR
  3. Oct 13, 20264 EDGAR
  4. Oct 2, 2026144 EDGAR
  5. Oct 2, 20264 EDGAR
  6. Oct 1, 2026144 EDGAR
  7. Sep 11, 20264 EDGAR
  8. Sep 11, 20264 EDGAR
  9. Sep 3, 20264 EDGAR
  10. Sep 3, 20264 EDGAR
  11. Sep 3, 20264 EDGAR
  12. Sep 2, 20264 EDGAR
  13. Sep 1, 2026144 EDGAR
  14. Aug 31, 2026144 EDGAR
  15. Aug 13, 2026SCHEDULE 13G/A EDGAR
  16. Aug 5, 20264 EDGAR
  17. Aug 5, 2026S-8 EDGAR
  18. Aug 5, 202610-Q EDGAR
  19. Aug 4, 20268-K EDGAR
  20. Jul 28, 2026SCHEDULE 13G/A EDGAR

The 415 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

28 open-market trades by officers, directors and large owners since October 2021: 21 buys and 7 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 1, 2026SOISTMAN FRANCIS S JRDirectorSale37,297$1.05$39.2KForm 4
Aug 31, 2026SOISTMAN FRANCIS S JRDirectorSale37,296$1.14$42.5KForm 4
Mar 6, 2026Dolan John JosephChief Financial OfficerBuy25,000$1.53$38.2KForm 4
Feb 27, 2026DUKE DERRICK AChief Executive OfficerBuy187,969$1.38$259.4KForm 4
May 28, 2025Galimi Gavin G.SVP, General Counsel & Secr.Buy9,500$4.32$41.0KForm 4
Nov 11, 2024WOLF DALE BDirectorSale16,403$5.22$85.6KForm 4
Nov 8, 2024WOLF DALE BDirectorSale3,597$5.35$19.2KForm 4
Aug 20, 2024Galimi Gavin G.SVP, General Counsel & Secr.Buy7,000$4.04$28.3KForm 4
Aug 8, 2024Galimi Gavin G.SVP, General Counsel & Secr.Buy10,365$4.12$42.7KForm 4
Aug 8, 2024Stelben John JSVP, Chief Financial OfficerBuy20,000$4.16$83.2KForm 4
Aug 8, 2024SOISTMAN FRANCIS S JRDirectorBuy50,000$4.07$203.5KForm 4
Sep 15, 2023WOLF DALE BDirectorBuy15,000$7.05$105.8KForm 4
Jun 15, 2023Galimi Gavin G.SVP, General Counsel & Secr.Buy2,000$9.01$18.0KForm 4
May 31, 2023WOLF DALE BDirectorBuy2,668$6.42$17.1KForm 4
May 30, 2023WOLF DALE BDirectorBuy10,264$6.37$65.4KForm 4
May 30, 2023Galimi Gavin G.SVP, General Counsel & Secr.Buy5,500$6.52$35.9KForm 4
Nov 22, 2022SOISTMAN FRANCIS S JRDirectorBuy80,000$3.08$246.4KForm 4
Nov 17, 2022WOLF DALE BDirectorSale5,000$3.24$16.2KForm 4
Mar 14, 2022WOLF DALE BDirectorBuy10,000$9.99$99.9KForm 4
Mar 11, 2022WOLF DALE BDirectorBuy10,000$10.56$105.6KForm 4

All 28 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Derrick A. Duke59$290.8K$3.3M96
2025Francis S. Soistman$748.3K$2.8M96
2025John J. Dolan58$441.7K$1.2M96
2025Michelle M. Barbeau48$431.7K$1.2M96
2024Former ChiefExecutive Officer$755.8K$3.4M96
2024Chief Revenue Officer$433.3K$1.9M96

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Nantahala Capital Management, LLC3,522,882$5.2M0.2%+1,761,441
Aqr Capital Management LLC2,288,414$3.4M0.0%+573,302
Palo Alto Investors LP1,482,797$2.2M0.3%No change
BlackRock, Inc.1,342,468$2.0M0.0%−1,349,319
Vanguard Capital Management LLC1,180,462$1.8M0.0%−25,965
Assenagon Asset Management S.A.945,138$1.4M0.0%+683,285
D. E. Shaw & Co., Inc.568,229$846.7K0.0%+98,678
Dimensional Fund Advisors LP551,494$821.7K0.0%−276,706
Redwood Capital Management, LLC467,395$696.4K0.1%No change
Goldman Sachs Group Inc447,455$666.7K0.0%+4,571
Eversept Partners, LP404,854$603.2K0.0%+183,939
Geode Capital Management, LLC325,490$485.2K0.0%−410,818
Jane Street Group, LLC315,694$470.4K0.0%+242,092
Centiva Capital, LP286,597$427.0K0.0%−22,104
RBF Capital, LLC265,800$396.0K0.0%No change
Millennium Management LLC247,914$369.4K0.0%New
Citadel Advisors LLC205,066$305.5K0.0%New
Vanguard Fiduciary Trust Co194,639$290.0K0.0%+17,551
Quinn Opportunity Partners LLC174,000$259.3K0.0%+60,000
Arrowstreet Capital, Limited Partnership173,843$259.0K0.0%New
Bank Of America Corp /de/169,415$252.4K0.0%−53,853
State Street Corp139,825$208.3K0.0%−306,738
Marshall Wace, Llp133,900$199.5K0.0%New
Morgan Stanley120,703$179.8K0.0%+700
Mackenzie Financial Corp103,253$153.8K0.0%−189,269

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How eHealthInsurance is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAReHealth, Inc.2
  • CIK0001333493
  • Employer ID (EIN)56-235787617
  • Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsDecember 312
  • Industry code (SIC)6411 Insurance Agents, Brokers & Service2
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance2
  • Business address9190 Priority Way West Dr., Suite 110, Indianapolis, IN 462402
  • Phone737-248-23402
  • Shares outstanding32,032,654 as of Jul 31, 202614
  • Public float$126.2M as of Jun 30, 202517
  • AuditorErnst & Young LLP, San Francisco, California PCAOB ID 42; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceApr 25, 20062
  • Filings1,782 in all: 4 (1,063), 8-K (235), SC 13G/A (119), 10-Q (60), 3 (60), SC 13G (44), DEFA14A (30), 10-K (20)2
    All 39 form types

    DEF 14A (20), CORRESP (18), UPLOAD (15), S-8 (13), SCHEDULE 13G/A (9), 8-K/A (8), 4/A (7), SC 13D/A (7), SCHEDULE 13G (7), 144 (5), S-1/A (5), 424B5 (4), ARS (4), EFFECT (4), SC 13D (4), POSASR (3), CT ORDER (2), S-3 (2), S-3ASR (2), 10-K/A (1), 424B4 (1), 5 (1), 8-A12B (1), CERTNAS (1), D (1), DEFR14A (1), DFAN14A (1), FWP (1), NT 10-K (1), POS AM (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 28, 2026
    Latest 8-K (8-K) Aug 4, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareEHTHThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks eHealthInsurance names in Item 1A of its 10-K filed Feb 26, 2026: 40 risks under these headings, as written.17

  • Risks Related to Our Business
  • The markets in which we participate are intensely competitive. If we cannot compete effectively against current and future competitors, including government-run health insurance exchanges and marketplaces, our business, operating results and financial condition could suffer.
  • Our business may be harmed if we lose our relationship with health insurance carriers or our relationships with health insurance carriers are modified.
  • If we are unable to successfully attract and convert qualified prospects into members for whom we receive commissions or fees, our business, operating results and financial condition would be harmed.
  • Our marketing, brand promotion and consumer outreach efforts may be unsuccessful, increasingly costly, or limited by evolving technology, regulatory requirements or partner practices, which could adversely affect our business, operating results and financial condition.
  • Our business success depends on our ability to timely recruit, train and retain qualified licensed insurance agents, or benefit advisors, and other personnel to provide superior customer service and support our strategic initiatives while also managing our labor costs.
  • Our business is seasonal in nature, and if we are not successful in responding to changes in the seasonality of our business, our business, operating results and financial condition could be harmed.
  • Our business, operating results and financial condition will be adversely impacted if we are unable to retain our existing members.
  • Our business, operating results and financial condition may be impacted by factors that impact our constrained estimated LTV of commissions per approved member.
  • We derive a significant portion of our revenue from a small number of health insurance carriers. Our business may be harmed by any impairment of our relationships with them or impairment of their businesses.
  • If our carrier advertising and sponsorship program is not successful, our business, operating results and financial condition could be harmed.
  • Our business may be harmed if we do not enroll subsidy-eligible individuals through government-run health insurance exchanges efficiently.
The other 29 risks
  • Our business could be harmed if we are not successful in executing on our operational and strategic plans.
  • Changes in our senior management or other key employees could affect our business, operating results and financial condition.
  • Our operations in China involve risks that could increase expenses and expose us to increased liability.
  • Our self-insurance programs may expose us to significant and unexpected costs and losses.
  • Risks Related to Laws and Regulations
  • Changes and developments in the health care industry or system, including changes in laws and regulations, could harm our business, operating results and financial condition.
  • The marketing and sale of health insurance plans, including Medicare plans, are subject to numerous, complex and frequently changing laws, regulations and guidelines. Non-compliance with or changes in such requirements, or changes in their interpretation or enforcement, could harm our business, operating results and financial condition.
  • We have been and may in the future be subject to various legal proceedings, including litigation, government enforcement actions or regulatory inquiries, which could adversely affect our business, operating results and financial condition.
  • We may be unable to operate our business if we fail to maintain our health insurance licenses and otherwise comply with the numerous laws and regulations applicable to the sale of health insurance.
  • Any legal liability, regulatory penalties, complaints or negative publicity related to us or our services could harm our business, operating results and financial condition.
  • Risks Related to Technology, Cybersecurity and Data Privacy
  • Our business depends on our ability to maintain and improve functioning information technology systems that support our ecommerce platform and advisor enrollment center operations, particularly during key health care enrollment periods.
  • Increasing regulatory focus on privacy and data security issues and expanding laws could impact our business and expose us to increased liability.
  • Issues relating to the use of new and evolving technologies, such as AI, in our business operations could result in liability, reputational harm and an adverse impact on our business, operating results and financial condition.
  • We may not be able to adequately protect our intellectual property, which could harm our business, operating results and financial condition.
  • Risks Related to Finance, Accounting and Tax Matters
  • If commission or other member data reports we receive from carriers are inaccurate or not sent to us in a timely manner, our business and operating results could be harmed, and we may not recognize trends in our membership and accurately estimate membership as of a specific date.
  • Our agreements with our lender and our convertible preferred stock investor contain restrictions that impact our business and expose us to risks that could materially adversely affect our liquidity and financial condition.
  • Operating and growing our business is likely to require additional capital. If capital is not available to us, our business, operating results and financial condition may suffer.
  • If we fail to maintain proper and effective internal controls, our ability to produce accurate financial statements could be impaired, which could adversely affect our operating results, our ability to operate our business and our stock price.
  • Changes in our provision for income taxes or adverse outcomes resulting from examination of our income or other tax returns or changes in tax legislation could adversely affect our results.
  • Our ability to use net operating losses to offset future taxable income may be subject to certain limitations.
  • The value of our investments is subject to significant capital markets risk related to changes in interest rates and credit spreads as well as other investment risks.
  • Risks Related to Ownership of Our Common Stock
  • Our future operating results are likely to fluctuate and could fall short of our guidance and other expectations, which could negatively affect the value of our common stock.
  • The price of our common stock has been and may continue to be volatile, and the value of your investment could decline.
  • Our convertible preferred stock investor has rights, preferences and privileges that are not held by, and are preferential to, the rights of our common stockholders and may exercise influence over us. This could adversely affect our liquidity and financial condition, result in the interests of our convertible preferred stock investor differing from those of our common stockholders and make an acquisition of us more difficult.
  • The issuance of shares of common stock underlying our convertible preferred stock would dilute the ownership and relative voting power of holders of our common stock and may adversely affect the market price of our common stock.
  • Anti-takeover provisions contained in our certificate of incorporation and bylaws, as well as provisions of Delaware law, could impair a takeover attempt.
  • Our bylaws designate a state or federal court located within the State of Delaware and the federal district courts for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us.
  • We are a “smaller reporting company,” and the scaled disclosure requirements applicable to smaller reporting companies may make our common stock less attractive to investors.
  • Macroeconomic and Industry Risks
  • Our business, operating results and financial condition can be impacted by political events, political instability, trade and other international disputes, geopolitical tensions or natural disasters.
  • Adverse macroeconomic conditions including slow growth, recession, high unemployment, inflation, financial and credit market disruptions, could materially adversely affect our business, operating results and financial condition.

Legal proceedings

In the ordinary course of our business, we have received and may continue to receive inquiries from state and federal regulators relating to various matters. We have become, and may in the future become, involved in litigation in the ordinary course of our business. If we are found to have violated laws or regulations in any jurisdiction, we could be subject to various fines and penalties, including revocation of our license to sell insurance in those states, and our business, operating results, and financial condition would be harmed. Revocation of any of our licenses or penalties in one jurisdiction could cause our license to be revoked or for us to face penalties in other jurisdictions. In addition, without a health insurance license in a jurisdiction, carriers would not pay us commissions for the products we sold in that jurisdiction, and we would not be able to sell new health insurance products in that jurisdiction. We could also be harmed to the extent that related publicity damages our reputation as a trusted source of objective information relating to health insurance and its affordability. It could also be costly to defend ourselves regardless of the outcome. Our material legal proceedings are described in Part II, Item 8 of this Annual Report on Form 10-K in our Notes to Consolidated Financial Statements in Note 8 – Commitments and Contingencies.

The opening of Item 3, Legal Proceedings.17

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