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Description of Gohealth Inc's Business Segments
GoHealth Inc is a prominent player in the health insurance marketplace, providing a broad array of services and products that empower consumers to find the most suitable health insurance plans for their needs. The companys primary focus is to connect customers with optimal coverage options while maintaining a customer-centric philosophy that prioritizes personalized service and support.
Segments
GoHealth Incs offerings are structured around several key customer segments, allowing them to address diverse requirements effectively:
1. Individuals: For those who lack coverage through employer-sponsored health plans, GoHealth provides various individual insurance plans. These plans are designed to deliver comprehensive health coverage that includes essential medical services such as hospitalization, routine physician visits, preventive care, and prescription drug coverage.
2. Families: GoHealth recognizes the unique healthcare needs of families and aims to offer customized insurance solutions that cater to the entire family unit. Plans typically cover not just individuals but also spouses and dependents, focusing on comprehensive features that provide peace of mind and long-term security.
3. Small Businesses: Catering specifically to small businesses with two to fifty employees, GoHealth offers group health insurance plans that deliver essential benefits. These group plans can include medical, dental, and vision insurance, designed to support employee wellness and recruitment while also being budget-conscious for small business owners.
Products
GoHealths product lineup includes a diverse range of health insurance options tailored to meet various consumer needs:
1. Medicare Options: Recognizing the complexities of healthcare for seniors, GoHealth provides Medicare Advantage plans and Medicare Supplement insurance. These products are formulated to help seniors access necessary healthcare services comprehensively and affordably.
2. Individual & Family Health Plans: GoHealths individual and family plans offer affordable options with extensive coverage, addressing critical health needs such as hospital care, doctor consultations, laboratory services, and prescription drugs'all tailored to the circumstances of each family or individual.
3. Short-term Health Insurance: For those requiring temporary coverage, the company provides short-term health insurance plans that can offer a safety net for up to 364 days. These plans cater to individuals in transitional situations, such as recent graduates or those between employer coverage.
4. Ancillary Products: GoHealth also offers ancillary insurance products, which can include dental plans, vision care insurance, and life insurance, ensuring that customers have comprehensive protection for various aspects of their healthcare needs.
Services
In addition to their diverse product offerings, GoHealth provides multiple services aimed at simplifying the health insurance selection process:
1. Insurance Search Engine: GoHealth boasts a robust insurance search engine that leverages advanced technology to help users quickly identify suitable health insurance plans. This tool takes into consideration individual requirements, budgets, and preferences, streamlining the comparison process.
2. Licensed Insurance Advisors: GoHealths team of licensed insurance advisors is available to provide personalized guidance. These professionals assess customer needs and offer tailored recommendations, ensuring that each client finds the most appropriate insurance solutions for their situation.
3. Customer Support: A dedicated customer support team at GoHealth assists clients throughout the insurance enrollment process and beyond. This support network ensures that customers have reliable resources and assistance as they navigate any questions or issues related to their healthcare coverage.
Conclusion
In summary, GoHealth Inc stands out as a comprehensive health insurance marketplace that provides a wide variety of products and services tailored to the specific needs of individuals, families, and small businesses. With a focus on personalization and customer support, GoHealth facilitates access to optimal health insurance options that align with their users healthcare requirements and financial considerations.
Composition of Gohealth Inc Revenues by
Segments |
|
Medicare Revenue |
|
98.61 % |
of total Revenue |
Medicare Revenue Agency Revenue |
|
78.01 % |
of total Revenue |
Medicare Revenue Commission Revenue |
|
65.83 % |
of total Revenue |
Medicare Revenue Partner Marketing and Other Revenue |
|
12.18 % |
of total Revenue |
Medicare Revenue Non-Agency Revenue |
|
20.61 % |
of total Revenue |
Other Revenue |
|
1.39 % |
of total Revenue |
Other Revenue Other Revenue |
|
1.39 % |
of total Revenue |
Q3 three months ended (Sep 30 2024)
|
Revenues by Business Segments |
Revenues (in millions $) |
%
(of total Revenues) |
Medicare Revenue |
116.65 |
98.61 % |
Medicare Revenue Agency Revenue |
92.28 |
78.01 % |
Medicare Revenue Commission Revenue |
77.87 |
65.83 % |
Medicare Revenue Partner Marketing and Other Revenue |
14.41 |
12.18 % |
Medicare Revenue Non-Agency Revenue |
24.38 |
20.61 % |
Other Revenue |
1.64 |
1.39 % |
Other Revenue Other Revenue |
1.64 |
1.39 % |
Total |
118.29 |
100 % |
Q3 three months ended (Sep 30 2024) |
Revenue Growth rates by Segment |
Y/Y Revenue % |
Q/Q Revenue % |
Medicare Revenue |
-11.22 % |
10.97 % |
Medicare Revenue Agency Revenue |
-5.72 % |
8.97 % |
Medicare Revenue Commission Revenue |
1.68 % |
10.37 % |
Medicare Revenue Partner Marketing and Other Revenue |
-32.36 % |
1.99 % |
Medicare Revenue Non-Agency Revenue |
-27.25 % |
19.24 % |
Other Revenue |
152.93 % |
119.71 % |
Other Revenue Other Revenue |
152.93 % |
119.71 % |
Total |
-10.41 % |
11.73 % |
Q3 three months ended (Sep 30 2024) |
Income by Business Segments |
Income (in millions $) |
%
(Profit Margin) |
Total |
15.37 |
12.99 % |
Q3 three months ended (Sep 30 2024) |
Income Growth rates by Segment |
Y/Y Income % |
Q/Q Income % |
Total |
- |
- |
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