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Balance Sheet Accounts
12 Months Ended
Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Accounts
Balance Sheet Accounts

Cash and Cash Equivalents—As of December 31, 2014 and 2015, 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, 2014 and 2015, 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 years ended December 31, 2013, 2014 and 2015.  
 
As of December 31, 2014 and 2014, our cash and cash equivalent balances were invested as follows (in thousands): 
 
December 31, 2014
 
December 31, 2015
Cash
$
15,793

 
$
8,086

Money market funds
35,622

 
54,624

Total cash and cash equivalents
$
51,415

 
$
62,710


 
We used observable prices in active markets in determining the classification of our money market funds as Level 1 as of December 31, 2014 and 2015.
 
Concentration of Credit RiskOur financial instruments that are exposed to concentrations of credit risk principally consist of cash, cash equivalents and accounts receivable. We invest our cash and cash equivalents with major banks and financial institutions and, at times, such investments are in excess of federally insured limits. We also have deposits with major banks in China that are denominated in both U.S. dollars and Chinese Renminbi and are not insured by the U.S. federal government.
 
Accounts Receivable—We do not require collateral or other security for our accounts receivable. As of December 31, 2014three customers represented 30%, 17%, and 14%, respectively, for a combined total of 61% of our $8.2 million outstanding accounts receivable balance. As of December 31, 2015three customers represented 24%, 18%, and 15% respectively, for a combined total of 57% of our $9.6 million outstanding accounts receivable balance. No other customers represented 10% or more of our total accounts receivable at December 31, 2014 and December 31, 2015. We believe the potential for collection issues with any of our customers was minimal as of December 31, 2015. Accordingly, our estimate for uncollectible amounts at December 31, 2015 was not material.
 
As of December 31, 2014 and 2015, our accounts receivable consisted of the following (in thousands): 
 
December 31, 2014
 
December 31, 2015
Commissions receivable
5,383

 
6,136

Accounts receivable – for other revenue
$
2,462

 
$
3,511

Commissions receivable - for Medicare renewals
355

 

Total accounts receivable
$
8,200

 
$
9,647


 
The Commissions receivable balance as of December 31, 2014 and December 31, 2015 is recorded net of a $1.0 million and $1.1 million estimated forfeiture, respectively. The estimated forfeiture is related to Medicare Advantage and Medicare Part D plans sold during the fourth quarter of 2014 and 2015 with effective dates in 2015 and 2016, respectively.


Prepaid Expenses and Other Current Assets—Prepaid expenses and other current assets consisted of the following (in thousands):

 
As of December 31,
 
2014
 
2015
Book-of-business transfers, net (current)
$
1,844

 
$
1,518

Income tax receivable
276

 

Prepaid maintenance contracts (current)
1,994

 
1,760

Prepaid insurance
1,056

 
270

Prepaid rent
366

 
364

Other assets (current)
938

 
1,273

Prepaid expenses and other current assets
$
6,474

 
$
5,185


 
Property and Equipment—Property and equipment consisted of the following (in thousands)    
 
 
As of December 31,
 
2014
 
2015
Computer equipment and software
$
17,009

 
$
16,973

Office equipment and furniture
3,486

 
3,479

Leasehold improvements
3,200

 
3,182

Property and equipment, gross
23,695

 
23,634

Less accumulated depreciation and amortization
(14,055
)
 
(16,270
)
Property and equipment, net
$
9,640

 
$
7,364


 
Depreciation and amortization expense related to property and equipment totaled $3.3 million, $4.2 million and $4.1 million in the years ended December 31, 2013, 2014 and 2015, respectively.
 
Other Assets—Other assets consisted of the following (in thousands):
 
As of December 31,
 
2014
 
2015
Book-of-business transfers, net (non-current)
$
3,545

 
$
1,866

Security deposits
604

 
607

Capitalized project costs
1,306

 
1,832

Prepaid maintenance contracts (non-current)
224

 
188

Deferred tax assets

 
204

Other assets
$
5,679

 
$
4,697



Intangible Assets—During the fourth quarter 2014, we recorded an impairment charge of $0.1 million related to certain acquired intangible assets that we concluded would not be utilized in future periods.

On March 31, 2014, we purchased an Internet domain name, www.Medicare.com, for $4.8 million. Cash consideration paid in connection with the purchase of the domain name totaled $4.5 million. The consideration paid also included $0.3 million of outstanding receivables from the owner of the domain name that were settled upon completion of the purchase. The related intangible asset was assigned an indefinite useful life. The carrying amounts,  accumulated amortization, net carrying value and weighted average remaining life of our definite-lived amortizable intangible assets, as well as our indefinite-lived intangible trademarks, are presented in the tables below for (dollars in thousands, weighted-average useful life is as of December 31, 2015):
 
December 31, 2014
 
December 31, 2015
 
Weighted Average Remaining Life
 
Gross Carrying Amount
 
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
December 31, 2015
Technology
$
1,700

 
$
(1,587
)
 
$
113

 
$
1,700

 
$
(1,700
)
 
$

 
0
Pharmacy and customer relationships
10,100

 
(5,033
)
 
$
5,067

 
10,100

 
(5,984
)
 
$
4,116

 
4.3 years
Trade names, trademarks and website addresses
907

 
(427
)
 
$
480

 
907

 
(517
)
 
$
390

 
4.3 years
Total intangible assets subject to amortization
$
12,707

 
$
(7,047
)
 
5,660

 
$
12,707

 
$
(8,201
)
 
4,506

 
 
Indefinite-lived trademarks and domain names
 
 
 
 
5,114

 
 
 
 
 
5,114

 
Indefinite
Intangible assets
 
 
 
 
$
10,774

 
 
 
 
 
$
9,620

 
 

 
During the years ended December 31, 2013, 2014 and 2015, amortization expense related to intangible assets totaled $1.4 million, $1.5 million and $1.2 million, respectively.
 
As of December 31, 2015, expected amortization expense in future periods is as follows (in thousands):

Years Ending December 31,
 
Pharmacy and Customer Relationships
 
Trade Names, Trademarks and Website Addresses
 
Total
2016
 
950

 
90

 
1,040

2017
 
950

 
90

 
1,040

2018
 
950

 
90

 
1,040

2019
 
950

 
90

 
1,040

2020
 
316

 
30

 
346

Thereafter
 

 

 

Total
 
4,116

 
390

 
4,506



 
Other Current Liabilities—Other current liabilities consisted of the following (in thousands):
 
 
As of December 31,
 
2014
 
2015
Payable to carriers – net of estimate for forfeitures
$
2,206

 
$
2,474

Professional fees
230

 
183

Other accrued expenses
560

 
568

Total other current liabilities
$
2,996

 
$
3,225



Non-current Liabilities—Non-current liabilities consisted of the following (in thousands):
 
 
As of December 31,
 
2014
 
2015
Deferred rent – non-current
$
1,196

 
$
1,068

Income tax payable – non-current
4,605

 
3,221

Deferred tax liabilities - non-current
410

 
329

Other non-current liabilities
238

 
344

Total non-current liabilities
$
6,449

 
$
4,962