Health Insurance Snapshot: eHealth Publishes Data on Average Costs and Most Common Qualifying Life Events Outside of Open Enrollment
MOUNTAIN VIEW, CA – August 3, 2015 – Today eHealth, Inc. (NASDAQ: EHTH – eHealth.com), the nation’s first and largest private online health insurance exchange, published a snapshot of the individually-purchased health insurance market outside of the nationwide open enrollment period. Highlights include average premiums and deductibles as well as the most common qualifying life events cited by consumers allowing them to purchase coverage outside of open enrollment.
Information published by eHealth today reflects trends and costs among consumers shopping at eHealth.com in the month of June 2015. It does not reflect average costs among shoppers utilizing government subsidies to help pay for premiums.
How Much are Consumers Paying for Health Insurance On Average1?
|
|
Average monthly premium |
Average annual deductible |
|
Individual Plans |
$286 |
$3,784 |
|
Family Plans |
$720 |
$7,193 |
For more information on average health insurance costs, refer to eHealth’s Price Index.
What Kinds of Plans Are Consumers Selecting?
In the month of June 2015, eHealth shoppers have selected plans in specific categories as shown2:
|
Platinum |
Gold |
Silver |
Bronze |
Catastrophic |
|
5% |
15% |
28% |
42% |
10% |
Qualifying Life Events: Why Are Consumers Shopping for New Coverage?
Outside of open enrollment, eHealth shoppers have been asked to indicate whether or not they have experienced a qualifying life event making them eligible to enroll in major medical coverage. In the month of June 2015, eHealth customers claimed qualifying life events as shown3:
|
“I recently lost or am losing coverage” |
63% |
|
“Recent marriage” |
4% |
|
“Permanent move to a new coverage area” |
11% |
|
“Birth or adoption of a child” |
2% |
|
“Other” |
20% |
Of those who selected “other,” many indicated life changes that may have been legitimate qualifying events while others reported personal challenges or life changes which did not always meet the law’s criteria for qualifying events.
What We’re Hearing from Health Insurance Shoppers
“We’re hearing from a lot of shoppers who don’t realize they can’t buy major medical coverage without a qualifying life event now that open enrollment is over,” said Anthony Kavouras, Sales Manager and licensed agent at eHealth’s Customer Care Center. “A lot of these folks are confused about what exactly constitutes a qualifying life event. For example, while having a baby is a qualifying life event, discovering that you’re pregnant is not.”
“Other people we’re hearing from are looking for affordable alternatives to COBRA health insurance coverage,” Kavouras continued. “COBRA can be really expensive. At eHealth we’re able to help by explaining that loss of employer coverage is a qualifying life event and then showing them more affordable non-COBRA coverage alternatives that still meet Obamacare requirements.”
Notes:
1 Based on analysis of plans chosen by health insurance shoppers at eHealth.com during the period from June 1, 2015 to June 30, 2015. These figures reflect only consumers who did not receive government subsidies.
2 Individual and family health insurance plans combined. Figures are based on analysis of plans chosen by unsubsidized health insurance shoppers at eHealth.com during the period from June 1, 2015 to June 30, 2015.
3 Based on inputs from eHealth.com visitors in the month of June 2015 who claimed a qualifying life event.
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eHealth
eHealth, Inc. (NASDAQ: EHTH) owns eHealth.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. eHealth offers thousands of individual, family and small business health plans underwritten by many of the nation's leading health insurance companies. eHealth (through its subsidiaries) is licensed to sell health insurance in all 50 states and the District of Columbia. eHealth also offers educational resources and 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), eHealthMedicare.com (www.eHealthMedicare.com) and Medicare.com (www.Medicare.com).
For more health insurance news and information, visit the eHealth consumer blog: Get Smart - Get Covered or visit eHealth's Consumer Resource Center.