The consolidated statements of income data for each of the years ended December 31, 2019, 2018, and 2017 and the consolidated balance sheets data as of December 31, 2019 and 2018 are derived from our audited consolidated financial statements included in Part IV, Item 15, "Exhibits and Financial Statement Schedules" of this Annual Report on Form 10-K. The consolidated statements of income data for the years ended December 31, 2016, and 2015, and the consolidated balance sheets data as of December 31, 2017, 2016, and 2015 are derived from our audited consolidated financial statements that are not included in this Annual Report on Form 10-K. Our historical results are not necessarily indicative of our results in any future period.
The adoption of the revenue recognition standard (ASC 606) highlighted the seasonality of our revenues. We generally expect to recognize greater revenue in the first and fourth quarters of each year as a result of the increase in submitted policies during these quarters due to the annual Medicare open enrollment period and the Patient Protection and Affordable Care Act open enrollment period.
As a result of these strategic plans to emphasize the Medicare segment, we expect for margins and profitability of our overall business to change over time. Our Medicare segment consists of significantly higher margin business than that of IFP. So, we currently expect for our overall profitability to improve as Medicare becomes a larger percentage of total revenue.
Adjusted EBITDA was $82.1 million, compared to $59.4 million in 2018, an increase of 38.2%.
Third-party commissions for the year ended December 31, 2019 were $188.7 million, a decrease of $46.0 million, or 19.6%, compared to 2018. Third-party commissions, as a percentage of revenue, decreased due in part to the continued planned diversification of our revenue mix towards Medicare, which do not have an associated commissions expense. The Company also had a change in estimate in connection with a reassessment of variable consideration during the year ended December 31, 2019 primarily related to a change in distribution and product mix within the supplemental category. During the year ended December 31, 2019 the Company also had reassessments of estimates relating to a favorable negotiation of a distributor's contract, a reassessment of certain commission arrangements, and cancellation of a portion of the in-force policies sold by Simple Health.
Marketing and advertising expense for the year ended December 31, 2019 was $37.9 million. This represents an increase of $31.6 million, or 500.9%, compared to 2018, which in 2018, marketing and advertising was presented as a component of SG&A.
The following tables set forth our unaudited quarterly consolidated statements of income data for each of the eight quarters in the period ended December 31, 2019. We have prepared the quarterly consolidated statements of income data on a basis consistent with the audited consolidated financial statements included in Part IV, Item 15, "Exhibits and Financial Statement Schedules" in this Annual Report on Form 10-K.
Net cash used in financing activities during the fiscal year ended December 31, 2019, increased significantly over 2018 primarily due to net cash inflows from use of the Senior Credit Facility and previous credit facility of $163.6 million. This was offset by cash outflows of $63.9 million for purchases of Class A common stock pursuant to our share repurchase plan, up approximately $8.0 million over 2018. Distributions to member were $2.6 million, down approximately $1.5 million over 2018. Payments associated with the net settlement of employee tax liabilities related to restricted share vesting were $2.8 million, down approximately $1.6 million from 2018. See Notes 9 and 10 for further information on our Senior Credit Facility and our share repurchase program, respectively.