Extend Health Inc., a health exchange company, hopes to raise around $75 million with an initial public offering (IPO) of stock, according to a registration statement filed with the U.S. Securities and Exchange Commission.
The company runs the ExtendRetiree program, a private health exchange that helps employers switch retirees from traditional group retiree health plans into individual Medicare Advantage, Medicare supplement and Medicare Part D prescription drug plans.
Instead of paying paying the full cost of the new individual Medicare coverage, or a fixed percentage of the cost, the employer pays a set amount for each retiree who switches, the company says. The platform makes use of defined contribution health plans and health reimbursement arrangements.
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