Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 01, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | EHTH | |
Entity Registrant Name | eHealth, Inc. | |
Entity Central Index Key | 1,333,493 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 18,208,307 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 66,689 | $ 62,710 |
Accounts receivable | 19,625 | 9,647 |
Prepaid expenses and other current assets | 4,947 | 5,185 |
Total current assets | 91,261 | 77,542 |
Property and equipment, net | 6,733 | 7,364 |
Other assets | 3,624 | 4,697 |
Intangible assets, net | 9,360 | 9,620 |
Goodwill | 14,096 | 14,096 |
Total assets | 125,074 | 113,319 |
Current liabilities: | ||
Accounts payable | 2,057 | 3,012 |
Accrued compensation and benefits | 8,551 | 14,386 |
Accrued marketing expenses | 2,966 | 10,698 |
Deferred revenue | 332 | 392 |
Accrued restructuring charges | 176 | 223 |
Other current liabilities | 10,104 | 3,225 |
Total current liabilities | 24,186 | 31,936 |
Non-current liabilities | 4,888 | 4,962 |
Stockholders’ equity: | ||
Common stock | 29 | 29 |
Additional paid-in capital | 268,255 | 266,699 |
Treasury stock, at cost | (199,998) | (199,998) |
Retained earnings | 27,532 | 9,498 |
Accumulated other comprehensive income | 182 | 193 |
Total stockholders’ equity | 96,000 | 76,421 |
Total liabilities and stockholders’ equity | $ 125,074 | $ 113,319 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Revenue | ||
Commission | $ 69,387 | $ 57,819 |
Other | 4,457 | 3,469 |
Total revenue | 73,844 | 61,288 |
Operating costs and expenses: | ||
Cost of revenue | 2,184 | 2,414 |
Marketing and advertising | 20,882 | 25,451 |
Customer care and enrollment | 10,199 | 11,861 |
Technology and content | 8,507 | 10,773 |
General and administrative | 8,129 | 7,973 |
Restructuring charges | 0 | 4,483 |
Amortization of intangible assets | 260 | 345 |
Total operating costs and expenses | 50,161 | 63,300 |
Income (loss) from operations | 23,683 | (2,012) |
Other expense, net | (11) | (14) |
Income (loss) before provision for income taxes | 23,672 | (2,026) |
Provision for income taxes | 5,638 | 56 |
Net income (loss) | 18,034 | (2,082) |
Comprehensive income: | ||
Foreign currency translation adjustment | (14) | 1 |
Comprehensive income (loss) | $ 18,020 | $ (2,081) |
Net income (loss) per share: | ||
Basic (in usd per share) | $ 0.99 | $ (0.12) |
Diluted (in usd per share) | $ 0.99 | $ (0.12) |
Weighted Average Number of Shares Outstanding, Diluted [Abstract] | ||
Basic (in shares) | 18,153 | 17,844 |
Diluted (in shares) | 18,217 | 17,844 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Operating activities | ||
Net income (loss) | $ 18,034 | $ (2,082) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
Deferred income taxes | 0 | 0 |
Depreciation and amortization | 1,005 | 1,058 |
Amortization of internally-developed software | 214 | 158 |
Amortization of book-of-business consideration | 1,597 | 1,962 |
Amortization of intangible assets | 260 | 345 |
Stock-based compensation expense | 1,832 | 2,031 |
Deferred rent and other | (31) | 27 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (9,978) | (6,400) |
Prepaid expenses and other assets | (153) | (894) |
Accounts payable | (1,265) | (3,658) |
Accrued compensation and benefits | (5,835) | 16 |
Accrued marketing expenses | (7,732) | (7,156) |
Deferred revenue | (60) | (152) |
Accrued restructuring charges | (70) | 1,771 |
Other liabilities | 6,879 | 1,802 |
Net cash provided by (used in) operating activities | 4,697 | (11,172) |
Investing activities | ||
Purchases of property and equipment and other assets | (411) | (384) |
Net cash used in investing activities | (411) | (384) |
Financing activities | ||
Cash used to net-share settle equity awards | (276) | (480) |
Principal payments in connection with capital leases | (20) | (19) |
Net cash used in financing activities | (296) | (499) |
Effect of exchange rate changes on cash and cash equivalents | (11) | 5 |
Net (decrease) increase in cash and cash equivalents | 3,979 | (12,050) |
Cash and cash equivalents at beginning of period | 62,710 | 51,415 |
Cash and cash equivalents at end of period | $ 66,689 | $ 39,365 |
Summary Of Business And Signifi
Summary Of Business And Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary Of Business And Significant Accounting Policies | Summary of Business and Significant Accounting Policies Description of Business— eHealth, Inc. (the “Company,” “eHealth,” “we” or “us”) is the leading private online source of health insurance for individuals, families and small businesses in the United States. Through our website addresses ( www.eHealth.com , www.eHealthInsurance.com , www.eHealthMedicare.com, www.Medicare.com and www.PlanPrescriber.com) , consumers can get quotes from leading health insurance carriers, compare plans side-by-side, and apply for and purchase Medicare-related, individual and family, small business and ancillary health insurance plans. We actively market the availability of Medicare-related insurance plans and offer Medicare plan comparison tools and educational materials for Medicare-related insurance plans, including Medicare Advantage, Medicare Supplement and Medicare Part D prescription drug plans. Our ecommerce technology also enables us to deliver consumers’ health insurance applications electronically to health insurance carriers. We are licensed to market and sell health insurance in all 50 states and the District of Columbia. Basis of Presentation— The accompanying condensed consolidated balance sheet as of March 31, 2016 , the condensed consolidated statements of comprehensive income (loss) for the three months ended March 31, 2015 and 2016 and the condensed consolidated statements of cash flows for the three months ended March 31, 2015 and 2016 , respectively, are unaudited. The condensed consolidated balance sheet data as of December 31, 2015 was derived from the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2015 , which was filed with the Securities and Exchange Commission on March 14, 2016. The accompanying statements should be read in conjunction with the audited consolidated financial statements and related notes contained in our Annual Report on Form 10-K. The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, for interim financial information. Accordingly, they do not include all of the financial information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2015 , and include all adjustments necessary for the fair presentation of eHealth’s financial position as of March 31, 2016 , its results of operations for the three months ended March 31, 2015 and 2016 and its cash flows for the three months ended March 31, 2015 and 2016 . All adjustments are of a normal recurring nature. The results for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for any subsequent period or for the fiscal year ending December 31, 2016 . Seasonality — The majority of our Medicare-related health insurance plans are sold in our fourth quarter, which includes the Medicare annual enrollment period, when Medicare-eligible individuals are permitted to change their Medicare Advantage and Medicare Part D prescription drug coverage for the following year. Additionally, substantially all Medicare Advantage and Medicare Part D prescription drug policies renew on January 1 of each year, resulting in our recognizing substantially all renewal Medicare Advantage and Medicare Part D prescription drug plan commission revenue in our first quarter. Accordingly, Medicare plan-related commission revenue is highest in our first quarter, with Medicare plan-related commission revenue being higher in our fourth quarter compared to our second and third quarters. The majority of our individual and family health insurance plans are sold in the annual open enrollment period as defined under the federal Patient Protection and Affordable Care Act and related amendments in the Health Care and Education Reconciliation Act. Individuals and families generally will not be able to purchase individual and family health insurance outside of these open enrollment periods, unless they qualify for a special enrollment period as a result of certain qualifying events, such as losing employer-sponsored health insurance, moving to another state or becoming eligible or ineligible for a government subsidy for their health insurance. Recent Accounting Pronouncements —In August 2015, the Financial Accounting Standard Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-14 (ASU 2015-14) "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date." ASU 2015-14 defers the effective date by one year of ASU No. 2014-09, “Revenue from Contracts with Customers.” ASU 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605)” and requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. In accordance with the deferral, the new standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period and can be adopted using either a full retrospective or modified retrospective approach. Early adoption is permitted for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02 (ASU 2016-02) "Leases (Topic 842)." ASU 2016-02 requires lessees to put leases on their balance sheets but recognize expenses on their income statements; for lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct finance leases. The guidance also eliminates existing real estate-specific provisions for all entities. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period. Early adoption is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-08 (ASU 2016-08) "Revenue from Contracts with Customers (Topic 606)." ASU 2016-8 requires an entity to determine whether it is a principal or an agent in a transaction in which another party is involved in providing goods or services to a customer by evaluating the nature of its promise to the customer. The new standard is effective for annual reporting periods beginning after December, 15 2017, including interim periods within that reporting period. Early adoption is permitted for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. We are currently in the process of evaluating the impact of the adoption of ASU 2016-08 on our consolidated financial statements. In April 2016, the FASB issued ASU No. 2016-10 (ASU 2016-10), Identifying Performance Obligations and Licensing. ASU 2016-10 provides guidance in identifying performance obligations and determining the appropriate accounting for licensing arrangements. The effective date and transition requirements for the amendments in this Update are the same as the effective date and transition requirements in Topic 606 (and any other Topic amended by Update 2014-09). We are currently in the process of evaluating the impact of the adoption of ASU 2016-10 on our consolidated financial statements. Recently Adopted Accounting Standards- In April 2015, the FASB issued ASU No. 2015-05 (ASU 2015-05), "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement." ASU 2015-05 provides guidance to clarify the customer’s accounting for fees paid in a cloud computing arrangement. It is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. We adopted this standard prospectively in the first quarter of 2016. Prior periods were not adjusted. The adoption of this standard did not have a material effect on our consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-09 (ASU 2016-09), "Improvements to Employee Share-Based Payment Accounting (Topic 718)." ASU 2016-09 simplifies various aspects related to how share-based payments are accounted for and presented in the consolidated financial statements. The amendments include income tax consequences, the accounting for forfeitures, the classification of awards as either equity or liabilities and the classification on the statement of cash flows. It is effective for the first interim period beginning after December 15, 2016 and early adoption is permitted. We adopted this standard in the first quarter of 2016. Under ASU 2016-09, eHealth classifies the excess income tax benefits from stock-based compensation arrangements as a discrete item within income tax expense, rather than recognizing such excess income tax benefits in additional paid-in capital. As required by ASU 2016-09, this guidance was applied using a modified retrospective transition method and is effective as of January 1, 2016. The adoption of this guidance did not have a material effect to retained earnings, or other components of equity or net assets at the beginning of the period of adoption. Under ASU 2016-09, excess income tax benefits from stock-based compensation arrangements are classified as cash flow from operations, rather than as cash flow from financing activities. We have elected to apply the cash flow classification guidance of ASU 2016-09 prospectively for the period ended March 31, 2016. Prior periods were not adjusted. Under ASU 2016-09, when shares are withheld from an employee's exercise of stock awards to fund our payment of the employee's taxes, the payment is classified as a financing activity. The adoption of this provision did not have a material effect on the cash flow statements from prior periods. In addition, we have elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. |
Balance Sheet Accounts
Balance Sheet Accounts | 3 Months Ended |
Mar. 31, 2016 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Accounts | Balance Sheet Accounts Cash and Cash Equivalents— As of December 31, 2015 and March 31, 2016 , our cash equivalents consisted of money market accounts that invested in U.S. government-sponsored enterprise bonds and discount notes, U.S. government treasury bills and notes and repurchase agreements collateralized by U.S. government obligations. At December 31, 2015 and March 31, 2016 , our cash equivalents carried no unrealized gains or losses and we did not realize any significant gains or losses on sales of cash equivalents during the three months ended March 31, 2015 and 2016 . As of December 31, 2015 and March 31, 2016 , our cash and cash equivalent balances were invested as follows (in thousands): December 31, 2015 March 31, 2016 Cash $ 8,086 $ 7,055 Money market funds 54,624 59,634 Total cash and cash equivalents $ 62,710 $ 66,689 Our money market funds reflect unadjusted quoted prices in active markets for identical assets and are classified as Level 1 as of December 31, 2015 and March 31, 2016 . Accounts Receivable— As of December 31, 2015 and March 31, 2016 , our accounts receivable consisted of the following (in thousands): December 31, 2015 March 31, 2016 Commissions receivable 6,136 416 Accounts receivable - for other revenues 3,511 1,742 Commissions receivable - for Medicare renewals — 17,467 Total accounts receivable $ 9,647 $ 19,625 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stockholders' Equity | Stockholders’ Equity Stock Plans— The following table summarizes activity under our 2014 Equity Incentive Plan, 2006 Equity Incentive Plan, 1998 Stock Plan and 2005 Stock Plan (collectively, the “Stock Plans”) (in thousands): Shares Available for Grant Shares available for grant December 31, 2015 3,542 Restricted stock units granted — Options granted — Restricted stock units cancelled (1) 6 Options cancelled (2) — Shares available for grant March 31, 2016 3,548 (1) Restricted stock units cancelled does not include restricted stock units cancelled under the 2006 Equity Incentive Plan, as our 2006 Equity Incentive Plan has been terminated with respect to the grant of additional awards. (2) Options cancelled does not include stock options cancelled under the 2006 Equity Incentive Plan, as our 2006 Equity Incentive Plan has been terminated with respect to the grant of additional awards. We maintain our 2006 Equity Incentive Plan, 2005 Stock Plan and 1998 Stock Plan, under which we previously granted options to purchase shares of our common stock and restricted stock units. The 2006 Equity Incentive Plan was terminated with respect to the grant of additional awards on June 12, 2014, upon adoption of our 2014 Equity Incentive Plan. The 2005 Stock Plan and 1998 Stock Plan were terminated with respect to the grant of additional awards upon the effectiveness of the 2006 Equity Incentive Plan. We will continue to issue new shares of common stock upon vesting of restricted stock units and the exercise of stock options previously granted under the 2006 Equity Incentive Plan, 2005 Stock Plan and 1998 Stock Plan. The following table summarizes stock option activity under the Stock Plans (in thousands, except per share amounts and weighted average remaining contractual life data): Number of Stock Options (1) Weighted Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value (2) Balance outstanding at December 31, 2015 1,275 $ 18.79 2.79 $ — Granted — $ — Exercised — $ — Cancelled (18 ) $ 19.77 Balance outstanding at March 31, 2016 1,257 $ 18.77 2.57 $ — Vested and expected to vest at March 31, 2016 1,248 $ 18.77 2.55 $ — Exercisable at March 31, 2016 1,085 $ 18.48 2.31 $ — (1) There were no options granted during the three months ended March 31, 2016. (2) The aggregate intrinsic value is calculated as the difference between eHealth’s closing stock price as of December 31, 2015 and March 31, 2016 and the exercise price of in-the-money options as of those dates. The following table summarizes restricted stock unit activity, including performance-based and market-based restricted stock unit activity, under the Stock Plans (in thousands, except per share amounts and weighted average remaining contractual life data): Number of Restricted Stock Units (1) Weighted-Average Grant Date Fair Value Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value (2) Balance outstanding as of December 31, 2015 966 $ 15.62 2.83 $ 9,636 Granted — $ — Vested (92 ) $ 17.15 Cancelled (7 ) $ 17.59 Balance outstanding as of March 31, 2016 867 $ 15.44 2.74 $ 8,146 (1) Includes certain restricted stock units with both service and performance-based or market-based vesting criteria granted to our executive officers. There were no restricted stock units granted during the three months ended March 31, 2016. (2) The aggregate intrinsic value is calculated as eHealth’s closing stock price as of December 31, 2015 and March 31, 2016 multiplied by the number of restricted stock units outstanding as of December 31, 2015 and March 31, 2016 , respectively. Stock Repurchase Programs— We had no stock repurchase activity during the three months ended March 31, 2016 . In addition to the shares repurchased under our past repurchase programs as of March 31, 2016 , we have in treasury 390,365 shares that were previously surrendered by employees to satisfy tax withholdings due in connection with the vesting of certain restricted stock units. As of December 31, 2015 and March 31, 2016 , we had a total of 11,025,933 shares and 11,054,253 shares, respectively, held in treasury. Stock-Based Compensation— The following table summarizes stock-based compensation expense recorded during the three months ended March 31, 2015 and 2016 (in thousands): Three Months Ended March 31, 2015 2016 Stock options $ 462 $ 326 Restricted stock units 1,569 1,506 Total stock-based compensation expense $ 2,031 $ 1,832 The following table summarizes stock-based compensation expense by operating function for the three months ended March 31, 2015 and 2016 (in thousands): Three Months Ended March 31, 2015 2016 Marketing and advertising $ 591 $ 555 Customer care and enrollment 117 123 Technology and content 435 435 General and administrative 775 719 Restructuring charges 113 — Total stock-based compensation expense $ 2,031 $ 1,832 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The following table summarizes our provision (benefit) for income taxes and our effective tax rates for the three months ended March 31, 2015 and 2016 (in thousands, except effective tax rate): Three Months Ended March 31, 2015 2016 Income (loss) before provision for income taxes $ (2,026 ) $ 23,672 Provision for income taxes $ 56 $ 5,638 Effective tax rate (2.8 )% 23.8 % In the three months ended March 31, 2015 and 2016 , we recorded a provision for income taxes of $0.1 million and $5.6 million , respectively. Our provision for income taxes in the three months ended March 31, 2015 primarily consisted of foreign income taxes and certain discrete items. The provision for income taxes in the three months ended March 31, 2016 , primarily consisted of Federal and state alternative minimum income taxes, foreign income taxes and certain discrete items. We recorded a valuation allowance against the US deferred tax assets at the end of fiscal year 2014 and continue to maintain that full valuation allowance as of March 31, 2016 as we believe it is not more likely that not that the net deferred tax assets will be fully realized. |
Net Income Per Share
Net Income Per Share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Net Income Per Share | Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common and common equivalent shares outstanding during the period. Diluted net income (loss) per share is computed giving effect to all potential dilutive common stock equivalent shares, including options and restricted stock units. The dilutive effect of outstanding awards is reflected in diluted net income (loss) per share by application of the treasury stock method. The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share amounts): Three Months Ended March 31, 2015 2016 Basic: Numerator: Net income (loss) allocated to common stock $ (2,082 ) $ 18,034 Denominator: Weighted average number of common stock shares outstanding 17,844 18,153 Net income (loss) per share—basic: $ (0.12 ) $ 0.99 Diluted: Numerator: Net income (loss) allocated to common stock $ (2,082 ) $ 18,034 Denominator: Weighted average number of common stock shares outstanding 17,844 18,153 Weighted average number of options — — Weighted average number of restricted stock units — 64 Total common stock shares used in diluted per share calculation (1) 17,844 18,217 Net income (loss) per share—diluted: $ (0.12 ) $ 0.99 (1) Total common stock shares used in the diluted per share calculation excludes market-based stock unit awards for which the related contingency had not been met as of March 31, 2016. For each of the three -month periods ended March 31, 2015 and 2016 , we had securities outstanding that could potentially dilute net income (loss) per share, but the shares from the assumed exercise of these securities were excluded in the computation of diluted net income (loss) per share as their effect would have been anti-dilutive for the periods presented. The number of outstanding weighted average anti-dilutive shares that were excluded from the computation of diluted net income (loss) per share consisted of the following (in thousands): Three Months Ended March 31, 2015 2016 Common stock options 1,702 1,263 Restricted stock units 618 713 Total 2,320 1,976 |
Geographic Information And Sign
Geographic Information And Significant Customers | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Geographic Information And Significant Customers | Geographic Information and Significant Customers Geographic Information —As of December 31, 2015 and March 31, 2016 , our long-lived assets consisted primarily of property and equipment, internal-use software, goodwill and other indefinite-lived intangible assets and finite-lived intangible assets. Our long-lived assets are attributed to the geographic location in which they are located. Long-lived assets by geographical area were as follows (in thousands): As of As of December 31, 2015 March 31, 2016 United States $ 35,341 $ 33,396 China 436 417 Total $ 35,777 $ 33,813 Significant Customers —Substantially all revenue for the three months ended March 31, 2015 and 2016 was generated from customers located in the United States. Carriers representing 10% or more of our total revenue in the three months ended March 31, 2015 and 2016 are presented in the table below: Three Months Ended March 31, 2015 2016 Humana 34 % 33 % UnitedHealthcare (1) 9 % 10 % Aetna (2) 9 % 11 % (1) UnitedHealthcare also includes other carriers owned by UnitedHealthcare. (2) Aetna also includes other carriers owned by Aetna. Commission revenue attributable to Medicare-related health insurance plans was approximately 51% and 62% of our commission revenue in the three months ended March 31, 2015 and 2016 , respectively. Commission revenue attributable to major medical individual and family health insurance plans was approximately 38% and 29% of our commission revenue in the three months ended March 31, 2015 and 2016 , respectively. We define our individual and family plan offerings as major medical individual and family health insurance plans, which do not include small business, Medicare-related health insurance plan offerings and other ancillary products such as short-term, stand-alone dental, life, vision, and accident insurance plan offerings. As of December 31, 2015, three customers represented 24% , 18% and 15% , respectively, of our $9.6 million outstanding accounts receivable balance. As of March 31, 2016 , two customers represented 60% and 11% of our $19.6 million outstanding accounts receivable balance. No other customers represented 10% or more of our total accounts receivable at December 31, 2015 and March 31, 2016 . We believe the potential for collection issues with any of our customers is minimal as of March 31, 2016 . Accordingly, our estimate for uncollectible amounts at December 31, 2015 and March 31, 2016 were not material. |
Restructuring Charges
Restructuring Charges | 3 Months Ended |
Mar. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Charges | Restructuring Charges In March 2015, we implemented an organizational restructuring and cost reduction plan designed to rebalance our resources and help reduce our cost structure as a result of lower than expected individual and family health insurance plan membership and revenue. As part of the plan, we eliminated approximately 160 full-time positions in the United States, representing approximately 15% of our workforce, primarily in our technology and content and customer care and enrollment groups, and to a lesser extent, in our marketing and advertising and general and administrative groups. We incurred pre-tax restructuring charges of approximately $3.9 million for employee termination benefits and related costs, as well as $0.6 million in other pre-tax restructuring charges, primarily consisting of facility exit costs. The majority of the restructuring charges were recorded in the first quarter of 2015, when the activities comprising the plan were approved and substantially completed. In March 2015, as part of our restructuring activities, we also eliminated certain positions in our China operation. The following table summarizes the total cash and non-cash restructuring charges recorded during the three months ended March 31, 2015 and 2016 , respectively (in thousands): Three Months Ended March 31, 2015 2016 Employee termination costs $ 3,734 $ — Non-cash employee termination costs - stock-based compensation 113 — Facility and other termination costs 636 — Total restructuring charges $ 4,483 $ — The following table summarizes the cash-based restructuring charges liability activity during the three months ended March 31, 2016 (in thousands): Three Months Ended March 31, 2016 Beginning balance Charges Payments Ending balance Employee termination costs $ 12 $ — $ (12 ) $ — Facility and other termination costs 421 — (58 ) 363 Total restructuring liability $ 433 $ — $ (70 ) $ 363 Less: restructuring charges associated with facilities - non-current (187 ) Restructuring charges liability - current $ 176 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Legal Proceedings — O n January 26 and March 10, 2015, two purported class action lawsuits were filed against us, our chairman and chief executive officer, Gary L. Lauer (“Mr. Lauer”), and our senior vice president and chief financial officer, Stuart M. Huizinga (“Mr. Huizinga”), in the United States District Court for the Northern District of California. On May 6, 2015, the court consolidated the two cases. On June 10, 2015, a consolidated complaint was filed. The consolidated complaint alleges that the defendants made false and misleading statements regarding the Company’s financial performance, guidance and operations during an alleged class period of May 1, 2014 to January 14, 2015. The consolidated complaint alleges that we and Messrs. Lauer and Huizinga violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The consolidated complaint seeks compensatory damages, attorneys’ fees and costs, rescission or a rescissory measure of damages, equitable/injunctive relief and such other relief as the court deems proper. On July 15, 2015, defendants moved to dismiss the consolidated complaint. On March 14, 2016, the court entered an order granting the defendants' motion to dismiss the consolidated complaint with leave to file an amended consolidated complaint within 30 days, which was later extended to April 27, 2016. On April 27, 2016, plaintiff did not file an amended complaint but filed a notice of submission to the court's order dismissing the consolidated complaint. We believe the lawsuit to be without merit and intend to vigorously defend ourselves against it. In May 2015 an individual plaintiff filed a lawsuit against a health insurance carrier and us in state court in the state of Texas. The complaint alleged that we and the health insurance carrier engaged in certain false, misleading and deceptive acts and/or omissions in violation of the Texas Deceptive Trade Practice - Consumer Protection Act in connection with the plaintiff’s purchase of the health insurance carrier’s health insurance product. The complaint sought economic and actual damages for alleged harm caused to the plaintiff as well as multiple damages, exemplary damages and attorney’s fees and costs. In June 2015, we and the health insurance carrier removed the case to the United States District Court for the Eastern District of Texas, and the court ordered the plaintiff to file an amended complaint. The plaintiff filed the amended complaint in July 2015. The amended complaint purports to be a class action lawsuit on behalf of the purchasers of a certain health insurance product offered by the health insurance carrier. The amended complaint alleges that we and the health insurance carrier engaged in certain false, misleading and deceptive acts and/or omissions in violation of the Texas Deceptive Trade Practice - Consumer Protection Act, or DTPA, and the Texas Insurance Code in connection with the sale of the health insurance carrier’s health insurance product. The amended complaint alleges certain other causes of action against the health insurance carrier. The amended complaint seeks economic and actual damages, multiple damages, exemplary damages, interest, attorney’s fees and costs, and specific performance. We filed a cross-claim against the health insurance carrier under the DTPA alleging that the health insurance carrier is required to indemnify us or contribute to any damages we are required to pay the plaintiff and for attorney’s fees. In August 2015, we and the health insurance carrier moved to dismiss the claims in the amended complaint. In January 2016, our motion to dismiss the amended complaint was denied. In April 2016, we entered into a settlement agreement with the plaintiff, pursuant to which the plaintiff released his individual claims against us for an immaterial amount. In May 2016, the court entered an order dismissing with prejudice all of the individual plaintiff’s claims against us. In the ordinary course of our business, we have received and may continue to receive inquiries from state 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 of the states, we could be subject to various fines and penalties, including revocation of our license to sell insurance in those states, and our business and financial results would be harmed. We would 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. At December 31, 2015 and March 31, 2016 , we had no material liabilities included in our consolidated balance sheet for outstanding legal claims. |
Summary Of Business And Signi13
Summary Of Business And Significant Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis Of Presentation | Basis of Presentation— The accompanying condensed consolidated balance sheet as of March 31, 2016 , the condensed consolidated statements of comprehensive income (loss) for the three months ended March 31, 2015 and 2016 and the condensed consolidated statements of cash flows for the three months ended March 31, 2015 and 2016 , respectively, are unaudited. The condensed consolidated balance sheet data as of December 31, 2015 was derived from the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2015 , which was filed with the Securities and Exchange Commission on March 14, 2016. The accompanying statements should be read in conjunction with the audited consolidated financial statements and related notes contained in our Annual Report on Form 10-K. The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, for interim financial information. Accordingly, they do not include all of the financial information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2015 , and include all adjustments necessary for the fair presentation of eHealth’s financial position as of March 31, 2016 , its results of operations for the three months ended March 31, 2015 and 2016 and its cash flows for the three months ended March 31, 2015 and 2016 . All adjustments are of a normal recurring nature. The results for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for any subsequent period or for the fiscal year ending December 31, 2016 . |
Seasonality | Seasonality — |
Recently Adopted Accounting Standards | Recent Accounting Pronouncements —In August 2015, the Financial Accounting Standard Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-14 (ASU 2015-14) "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date." ASU 2015-14 defers the effective date by one year of ASU No. 2014-09, “Revenue from Contracts with Customers.” ASU 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605)” and requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. In accordance with the deferral, the new standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period and can be adopted using either a full retrospective or modified retrospective approach. Early adoption is permitted for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02 (ASU 2016-02) "Leases (Topic 842)." ASU 2016-02 requires lessees to put leases on their balance sheets but recognize expenses on their income statements; for lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct finance leases. The guidance also eliminates existing real estate-specific provisions for all entities. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period. Early adoption is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-08 (ASU 2016-08) "Revenue from Contracts with Customers (Topic 606)." ASU 2016-8 requires an entity to determine whether it is a principal or an agent in a transaction in which another party is involved in providing goods or services to a customer by evaluating the nature of its promise to the customer. The new standard is effective for annual reporting periods beginning after December, 15 2017, including interim periods within that reporting period. Early adoption is permitted for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. We are currently in the process of evaluating the impact of the adoption of ASU 2016-08 on our consolidated financial statements. In April 2016, the FASB issued ASU No. 2016-10 (ASU 2016-10), Identifying Performance Obligations and Licensing. ASU 2016-10 provides guidance in identifying performance obligations and determining the appropriate accounting for licensing arrangements. The effective date and transition requirements for the amendments in this Update are the same as the effective date and transition requirements in Topic 606 (and any other Topic amended by Update 2014-09). We are currently in the process of evaluating the impact of the adoption of ASU 2016-10 on our consolidated financial statements. Recently Adopted Accounting Standards- In April 2015, the FASB issued ASU No. 2015-05 (ASU 2015-05), "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement." ASU 2015-05 provides guidance to clarify the customer’s accounting for fees paid in a cloud computing arrangement. It is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. We adopted this standard prospectively in the first quarter of 2016. Prior periods were not adjusted. The adoption of this standard did not have a material effect on our consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-09 (ASU 2016-09), "Improvements to Employee Share-Based Payment Accounting (Topic 718)." ASU 2016-09 simplifies various aspects related to how share-based payments are accounted for and presented in the consolidated financial statements. The amendments include income tax consequences, the accounting for forfeitures, the classification of awards as either equity or liabilities and the classification on the statement of cash flows. It is effective for the first interim period beginning after December 15, 2016 and early adoption is permitted. We adopted this standard in the first quarter of 2016. Under ASU 2016-09, eHealth classifies the excess income tax benefits from stock-based compensation arrangements as a discrete item within income tax expense, rather than recognizing such excess income tax benefits in additional paid-in capital. As required by ASU 2016-09, this guidance was applied using a modified retrospective transition method and is effective as of January 1, 2016. The adoption of this guidance did not have a material effect to retained earnings, or other components of equity or net assets at the beginning of the period of adoption. Under ASU 2016-09, excess income tax benefits from stock-based compensation arrangements are classified as cash flow from operations, rather than as cash flow from financing activities. We have elected to apply the cash flow classification guidance of ASU 2016-09 prospectively for the period ended March 31, 2016. Prior periods were not adjusted. Under ASU 2016-09, when shares are withheld from an employee's exercise of stock awards to fund our payment of the employee's taxes, the payment is classified as a financing activity. The adoption of this provision did not have a material effect on the cash flow statements from prior periods. In addition, we have elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. |
Balance Sheet Accounts (Tables)
Balance Sheet Accounts (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Balance Sheet Related Disclosures [Abstract] | |
Schedule Of Cash And Cash Equivalents | As of December 31, 2015 and March 31, 2016 , our cash and cash equivalent balances were invested as follows (in thousands): December 31, 2015 March 31, 2016 Cash $ 8,086 $ 7,055 Money market funds 54,624 59,634 Total cash and cash equivalents $ 62,710 $ 66,689 |
Schedule Of Accounts Receivable | Accounts Receivable— As of December 31, 2015 and March 31, 2016 , our accounts receivable consisted of the following (in thousands): December 31, 2015 March 31, 2016 Commissions receivable 6,136 416 Accounts receivable - for other revenues 3,511 1,742 Commissions receivable - for Medicare renewals — 17,467 Total accounts receivable $ 9,647 $ 19,625 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule Of Activity Under The Plans | The following table summarizes activity under our 2014 Equity Incentive Plan, 2006 Equity Incentive Plan, 1998 Stock Plan and 2005 Stock Plan (collectively, the “Stock Plans”) (in thousands): Shares Available for Grant Shares available for grant December 31, 2015 3,542 Restricted stock units granted — Options granted — Restricted stock units cancelled (1) 6 Options cancelled (2) — Shares available for grant March 31, 2016 3,548 (1) Restricted stock units cancelled does not include restricted stock units cancelled under the 2006 Equity Incentive Plan, as our 2006 Equity Incentive Plan has been terminated with respect to the grant of additional awards. (2) Options cancelled does not include stock options cancelled under the 2006 Equity Incentive Plan, as our 2006 Equity Incentive Plan has been terminated with respect to the grant of additional awards. |
Schedule Of Stock Option Activity Under Stock Plans | The following table summarizes stock option activity under the Stock Plans (in thousands, except per share amounts and weighted average remaining contractual life data): Number of Stock Options (1) Weighted Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value (2) Balance outstanding at December 31, 2015 1,275 $ 18.79 2.79 $ — Granted — $ — Exercised — $ — Cancelled (18 ) $ 19.77 Balance outstanding at March 31, 2016 1,257 $ 18.77 2.57 $ — Vested and expected to vest at March 31, 2016 1,248 $ 18.77 2.55 $ — Exercisable at March 31, 2016 1,085 $ 18.48 2.31 $ — (1) There were no options granted during the three months ended March 31, 2016. (2) The aggregate intrinsic value is calculated as the difference between eHealth’s closing stock price as of December 31, 2015 and March 31, 2016 and the exercise price of in-the-money options as of those dates. |
Schedule Of Restricted Stock Unit Activity Under Stock Plans | The following table summarizes restricted stock unit activity, including performance-based and market-based restricted stock unit activity, under the Stock Plans (in thousands, except per share amounts and weighted average remaining contractual life data): Number of Restricted Stock Units (1) Weighted-Average Grant Date Fair Value Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value (2) Balance outstanding as of December 31, 2015 966 $ 15.62 2.83 $ 9,636 Granted — $ — Vested (92 ) $ 17.15 Cancelled (7 ) $ 17.59 Balance outstanding as of March 31, 2016 867 $ 15.44 2.74 $ 8,146 (1) Includes certain restricted stock units with both service and performance-based or market-based vesting criteria granted to our executive officers. There were no restricted stock units granted during the three months ended March 31, 2016. (2) The aggregate intrinsic value is calculated as eHealth’s closing stock price as of December 31, 2015 and March 31, 2016 multiplied by the number of restricted stock units outstanding as of December 31, 2015 and March 31, 2016 , respectively. |
Schedule Of Stock-Based Compensation Expense | The following table summarizes stock-based compensation expense recorded during the three months ended March 31, 2015 and 2016 (in thousands): Three Months Ended March 31, 2015 2016 Stock options $ 462 $ 326 Restricted stock units 1,569 1,506 Total stock-based compensation expense $ 2,031 $ 1,832 The following table summarizes stock-based compensation expense by operating function for the three months ended March 31, 2015 and 2016 (in thousands): Three Months Ended March 31, 2015 2016 Marketing and advertising $ 591 $ 555 Customer care and enrollment 117 123 Technology and content 435 435 General and administrative 775 719 Restructuring charges 113 — Total stock-based compensation expense $ 2,031 $ 1,832 |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Summary Of Provision (Benefit) For Income Taxes And Effective Tax Rate | The following table summarizes our provision (benefit) for income taxes and our effective tax rates for the three months ended March 31, 2015 and 2016 (in thousands, except effective tax rate): Three Months Ended March 31, 2015 2016 Income (loss) before provision for income taxes $ (2,026 ) $ 23,672 Provision for income taxes $ 56 $ 5,638 Effective tax rate (2.8 )% 23.8 % |
Net Income Per Share (Tables)
Net Income Per Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule Of Computation Of Basic And Diluted Net Income (Loss) Per Share | The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share amounts): Three Months Ended March 31, 2015 2016 Basic: Numerator: Net income (loss) allocated to common stock $ (2,082 ) $ 18,034 Denominator: Weighted average number of common stock shares outstanding 17,844 18,153 Net income (loss) per share—basic: $ (0.12 ) $ 0.99 Diluted: Numerator: Net income (loss) allocated to common stock $ (2,082 ) $ 18,034 Denominator: Weighted average number of common stock shares outstanding 17,844 18,153 Weighted average number of options — — Weighted average number of restricted stock units — 64 Total common stock shares used in diluted per share calculation (1) 17,844 18,217 Net income (loss) per share—diluted: $ (0.12 ) $ 0.99 |
Schedule Of Anti-dilutive Shares Excluded From Computation Of Net Income (Loss) Per Share | The number of outstanding weighted average anti-dilutive shares that were excluded from the computation of diluted net income (loss) per share consisted of the following (in thousands): Three Months Ended March 31, 2015 2016 Common stock options 1,702 1,263 Restricted stock units 618 713 Total 2,320 1,976 |
Geographic Information And Si18
Geographic Information And Significant Customers (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule Of Long Lived Assets By Geographical Areas | Long-lived assets by geographical area were as follows (in thousands): As of As of December 31, 2015 March 31, 2016 United States $ 35,341 $ 33,396 China 436 417 Total $ 35,777 $ 33,813 |
Schedule Of Revenue By Major Customers | Carriers representing 10% or more of our total revenue in the three months ended March 31, 2015 and 2016 are presented in the table below: Three Months Ended March 31, 2015 2016 Humana 34 % 33 % UnitedHealthcare (1) 9 % 10 % Aetna (2) 9 % 11 % (1) UnitedHealthcare also includes other carriers owned by UnitedHealthcare. (2) Aetna also includes other carriers owned by Aetna. |
Restructuring Charges (Tables)
Restructuring Charges (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring Reserve by Type of Cost | The following table summarizes the total cash and non-cash restructuring charges recorded during the three months ended March 31, 2015 and 2016 , respectively (in thousands): Three Months Ended March 31, 2015 2016 Employee termination costs $ 3,734 $ — Non-cash employee termination costs - stock-based compensation 113 — Facility and other termination costs 636 — Total restructuring charges $ 4,483 $ — |
Schedule of Restructuring and Related Costs | The following table summarizes the cash-based restructuring charges liability activity during the three months ended March 31, 2016 (in thousands): Three Months Ended March 31, 2016 Beginning balance Charges Payments Ending balance Employee termination costs $ 12 $ — $ (12 ) $ — Facility and other termination costs 421 — (58 ) 363 Total restructuring liability $ 433 $ — $ (70 ) $ 363 Less: restructuring charges associated with facilities - non-current (187 ) Restructuring charges liability - current $ 176 |
Summary of Business And Signi20
Summary of Business And Significant Accounting Policies (Narrative) (Details) | Mar. 31, 2016state |
Accounting Policies [Abstract] | |
Number of states in which the Company is licensed to market and sell health insurance | 50 |
Balance Sheet Accounts (Schedul
Balance Sheet Accounts (Schedule Of Cash And Cash Equivalents) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
Cash and Cash Equivalents [Line Items] | ||||
Cash | $ 7,055,000 | $ 8,086,000 | ||
Money market funds | 59,634,000 | 54,624,000 | ||
Total cash and cash equivalents | 66,689,000 | 62,710,000 | $ 39,365,000 | $ 51,415,000 |
Cash Equivalents | ||||
Cash and Cash Equivalents [Line Items] | ||||
Unrealized gains or losses on cash equivalents | $ 0 | $ 0 |
Balance Sheet Accounts (Sched22
Balance Sheet Accounts (Schedule Of Accounts Receivable) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total accounts receivable | $ 19,625 | $ 9,647 |
Medicare Renewal Commissions Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total accounts receivable | 17,467 | 0 |
Accounts Receivable, Other Revenues [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total accounts receivable | 1,742 | 3,511 |
Other Commissions Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total accounts receivable | $ 416 | $ 6,136 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total grant date fair value of stock options vested | $ 0.3 | $ 0.5 | ||
Total fair value of restricted stock units vested | $ 0.9 | $ 1.2 | ||
Stock repurchased during period (shares) | [1] | 0 | ||
Treasury shares held to satisfy tax withholdings (shares) | 390,365 | |||
Treasury stock number of shares held (shares) | 11,054,253 | 11,025,933 | ||
[1] | Includes certain restricted stock units with both service and performance-based or market-based vesting criteria granted to our executive officers. |
Stockholders' Equity (Schedule
Stockholders' Equity (Schedule Of Activity Under The Plans) (Details) | 3 Months Ended | |
Mar. 31, 2016shares | ||
2014 Equity Incentive Plan [Member] | ||
Shares Available for Grant | ||
Shares available for grant, beginning balance (shares) | 3,542,000 | |
Restricted stock units granted (shares) | 0 | |
Options granted (shares) | 0 | |
Restricted stock units cancelled (shares) | 6,000 | [1] |
Options cancelled (shares) | 0 | [2] |
Shares available for grant, ending balance (shares) | 3,548,000 | |
2006 Equity Incentive Plan [Member] | ||
Shares Available for Grant | ||
Options cancelled (shares) | 18,000 | |
2006 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||
Shares Available for Grant | ||
Restricted stock units cancelled (shares) | 1,000 | |
[1] | Restricted stock units cancelled does not include restricted stock units cancelled under the 2006 Equity Incentive Plan, as our 2006 Equity Incentive Plan has been terminated with respect to the grant of additional awards. | |
[2] | Options cancelled does not include stock options cancelled under the 2006 Equity Incentive Plan, as our 2006 Equity Incentive Plan has been terminated with respect to the grant of additional awards. |
Stockholders' Equity (Schedul25
Stockholders' Equity (Schedule Of Option Activity Under Stock Plans) (Details) - Common Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | ||
Number of Stock Options (1) | |||
Balance outstanding at December 31, 2015 (shares) | 1,275,000 | ||
Granted (shares) | 0 | ||
Exercised (shares) | 0 | ||
Cancelled (shares) | (18,000) | ||
Balance outstanding at March 31, 2016 (shares) | 1,257,000 | 1,275,000 | |
Number of Stock Options Vested and expected to vest (shares) | 1,248,000 | ||
Number of Stock Options Exercisable (shares) | 1,085,000 | ||
Weighted Average Exercise Price | |||
Weighted-Average Exercise Price, balance outstanding at December 31, 2015 (usd per share) | $ 18.79 | ||
Weighted-Average Exercise Price, Granted (usd per share) | 0 | ||
Weighted-Average Exercise Price, Exercised (usd per share) | 0 | ||
Weighted-Average Exercise Price, Cancelled (usd per share) | 19.77 | ||
Weighted-Average Exercise Price, Balance outstanding at March 31, 2016 (usd per share) | 18.77 | $ 18.79 | |
Weighted-Average Exercise Price, Vested and expected to vest (usd per share) | 18.77 | ||
Weighted-Average Exercise Price, Exercisable (usd per share) | $ 18.48 | ||
Weighted-Average Remaining Contractual Life (years), Balance outstanding | 2 years 6 months 25 days | 2 years 9 months 15 days | |
Weighted-Average Remaining Contractual Life (years), Balance outstanding | 2 years 6 months 25 days | 2 years 9 months 15 days | |
Weighted-Average Remaining Contractual Life (years), Vested and expected to vest | 2 years 6 months 18 days | ||
Weighted-Average Remaining Contractual Life (years), Exercisable | 2 years 3 months 23 days | ||
Aggregate Intrinsic Value, Balance outstanding at December 31, 2015 | [1] | $ 0 | |
Aggregate Intrinsic Value, Balance outstanding | [1] | 0 | $ 0 |
Aggregate Intrinsic Value, Vested and expected to vest | [1] | 0 | |
Aggregate Intrinsic Value, Exercisable at | [1] | $ 0 | |
[1] | The aggregate intrinsic value is calculated as the difference between eHealth’s closing stock price as of December 31, 2015 and March 31, 2016 and the exercise price of in-the-money options as of those dates. |
Stockholders' Equity (Schedul26
Stockholders' Equity (Schedule Of Restricted Stock Unit Activity Under Stock Plans) (Details) - Restricted Stock [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | ||
Number of Restricted Stock Units | |||
Balance outstanding as of December 31, 2015 (shares) | [1] | 966,000 | |
Granted (shares) | [1] | 0 | |
Vested (shares) | [1] | (92,000) | |
Cancelled (shares) | [1] | (7,000) | |
Balance outstanding as of March 31, 2016 (shares) | [1] | 867,000 | 966,000 |
Weighted-Average Grant Date Fair Value | |||
Weighted-Average Grant Date Fair Value, Balance outstanding as of December 31, 2014 (usd per share) | $ 15.62 | ||
Weighted-Average Grant Date Fair Value, Granted (usd per share) | 0 | ||
Weighted-Average Grant Date Fair Value, Vested (usd per share) | 17.15 | ||
Weighted-Average Grant Date Fair Value, Cancelled (usd per share) | $ 17.59 | ||
Weighted-Average Remaining Contractual Life (years), Balance outstanding as of December 31, 2015 | 2 years 8 months 25 days | 2 years 9 months 28 days | |
Weighted-Average Grant Date Fair Value, Balance outstanding (usd per share) | $ 15.44 | $ 15.62 | |
Weighted-Average Remaining Contractual Life (years), Balance outstanding | 2 years 8 months 25 days | 2 years 9 months 28 days | |
Aggregate Intrinsic Value, Balance outstanding as of December 31, 2014 | [2] | $ 9,636 | |
Aggregate Intrinsic Value, Balance outstanding | [2] | $ 8,146 | $ 9,636 |
[1] | Includes certain restricted stock units with both service and performance-based or market-based vesting criteria granted to our executive officers. | ||
[2] | The aggregate intrinsic value is calculated as eHealth’s closing stock price as of December 31, 2015 and March 31, 2016 multiplied by the number of restricted stock units outstanding as of December 31, 2015 and March 31, 2016, respectively. |
Stockholders' Equity (Schedul27
Stockholders' Equity (Schedule Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Common stock options | $ 326 | $ 462 |
Restricted stock units | 1,506 | 1,569 |
Total stock-based compensation expense | $ 1,832 | $ 2,031 |
Stockholders' Equity (Schedul28
Stockholders' Equity (Schedule Of Stock-Based Compensation Expense By Operating Function) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Component Of Stock Based Compensation Expense [Line Items] | ||
Total Stock-Based Compensation Expense | $ 1,832 | $ 2,031 |
Marketing and Advertising Expense [Member] | ||
Component Of Stock Based Compensation Expense [Line Items] | ||
Total Stock-Based Compensation Expense | 555 | 591 |
Customer Care And Enrollment Expense [Member] | ||
Component Of Stock Based Compensation Expense [Line Items] | ||
Total Stock-Based Compensation Expense | 123 | 117 |
Technology And Content Expense [Member] | ||
Component Of Stock Based Compensation Expense [Line Items] | ||
Total Stock-Based Compensation Expense | 435 | 435 |
General and Administrative Expense [Member] | ||
Component Of Stock Based Compensation Expense [Line Items] | ||
Total Stock-Based Compensation Expense | 719 | 775 |
Restructuring Charges [Member] | ||
Component Of Stock Based Compensation Expense [Line Items] | ||
Total Stock-Based Compensation Expense | $ 0 | $ 113 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Income (loss) before provision for income taxes | $ 23,672 | $ (2,026) |
Provision for income taxes | $ 5,638 | $ 56 |
Effective tax rate | 23.80% | (2.80%) |
Increase in additional paid-in capital related to excess federal and state tax benefits | $ 0 |
Net Income Per Share (Schedule
Net Income Per Share (Schedule Oof Computation Of Basic And Diluted Net Income (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earnings Per Share [Abstract] | ||
Net income (loss) allocated to common stock | $ 18,034 | $ (2,082) |
Net weighted average number of common stock shares outstanding (shares) | 18,153 | 17,844 |
Net income (loss) per share-basic (usd per share) | $ 0.99 | $ (0.12) |
Incremental Common Shares Attributable To Options (shares) | 0 | 0 |
Incremental Common Shares Attributable To Restricted Stock Units (shares) | 64 | 0 |
Total common stock shares used in diluted per share calculation (shares) | 18,217 | 17,844 |
Net income per share—diluted (usd per share) | $ 0.99 | $ (0.12) |
Net Income Per Share (Schedul31
Net Income Per Share (Schedule Of Anti-Dilutive Shares Excluded From Computation Of Net Income Per Share) (Details) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 1,976,000 | 2,320,000 |
Common Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 1,263,000 | 1,702,000 |
Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 713,000 | 618,000 |
Geographic Information And Si32
Geographic Information And Significant Customers (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016USD ($)customer | Mar. 31, 2015 | Dec. 31, 2015USD ($)customer | |
Concentration Risk [Line Items] | |||
Accounts receivable | $ | $ 19,625 | $ 9,647 | |
Commission Revenue [Member] | Major Medical Individual And Family Insurance Plans [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 29.00% | 38.00% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
Concentration Risk [Line Items] | |||
Number of significant customers | customer | 2 | 3 | |
Accounts Receivable [Member] | Customer One [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 60.00% | 24.00% | |
Accounts Receivable [Member] | Customer Two [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 11.00% | 18.00% | |
Accounts Receivable [Member] | Customer Three [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 15.00% |
Geographic Information And Si33
Geographic Information And Significant Customers (Schedule Of Long Lived Assets By Geographical Areas) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Long-lived assets | $ 33,813 | $ 35,777 |
UNITED STATES | ||
Long-lived assets | 33,396 | 35,341 |
CHINA | ||
Long-lived assets | $ 417 | $ 436 |
Geographic Information And Si34
Geographic Information And Significant Customers (Schedule Of Revenue By Major Customers) (Details) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Sales [Member] | Humana [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration risk, percentage | 33.00% | 34.00% | |
Sales [Member] | UnitedHealthcare [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration risk, percentage | [1] | 10.00% | 9.00% |
Sales [Member] | Aetna [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration risk, percentage | [2] | 11.00% | 9.00% |
Medicare-related Health Insurance Plans [Member] | Commission Revenue [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration risk, percentage | 62.00% | 51.00% | |
Concentration Risk Customer Two [Member] | Accounts Receivable [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration risk, percentage | 11.00% | 18.00% | |
Major Medical Individual And Family Insurance Plans [Member] | Commission Revenue [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration risk, percentage | 29.00% | 38.00% | |
[1] | UnitedHealthcare also includes other carriers owned by UnitedHealthcare. | ||
[2] | Aetna also includes other carriers owned by Aetna. |
Restructuring Charges (Narrativ
Restructuring Charges (Narrative) (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | |
Mar. 30, 2015USD ($)position | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 0 | $ 4,483 | |
Employee Termination Benefits and Related Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 3,900 | ||
Facility and Other Termination Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 600 | $ 0 | $ 636 |
UNITED STATES | |||
Restructuring Cost and Reserve [Line Items] | |||
Number of positions eliminated | position | 160 | ||
Number of positions eliminated, period percent | 15.00% |
Restructuring Charges (Restruct
Restructuring Charges (Restructuring Activities) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | |
Mar. 30, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 0 | $ 4,483 | |
Employee Termination Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 0 | 3,734 | |
Non-cash Employee Termination Costs - Stock-based Compensation [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 0 | 113 | |
Facility and Other Termination Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 600 | $ 0 | $ 636 |
Restructuring Charges (Liabilit
Restructuring Charges (Liability Activities) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Restructuring Reserve [Roll Forward] | |
Beginning balance | $ 433 |
Charges | 0 |
Payments | (70) |
Ending balance | 363 |
Less: restructuring charges associated with facilities - non-current | (187) |
Restructuring charges liability - current | 176 |
Employee Termination Costs [Member] | |
Restructuring Reserve [Roll Forward] | |
Beginning balance | 12 |
Charges | 0 |
Payments | (12) |
Ending balance | 0 |
Facility and Other Termination Costs [Member] | |
Restructuring Reserve [Roll Forward] | |
Beginning balance | 421 |
Charges | 0 |
Payments | (58) |
Ending balance | $ 363 |
Commitments and Contingencies (
Commitments and Contingencies (Details) | Mar. 31, 2016USD ($) | Mar. 10, 2015class_action_lawsuit |
Commitments and Contingencies Disclosure [Abstract] | ||
Number of class action lawsuits filed against Company | class_action_lawsuit | 2 | |
Provision for expected and allowed claims | $ | $ 0 |