Health benefit management company Extend Health Inc. hopes to raise about $75 million with an initial public offering of stock, according to a registration statement filed with the Securities and Exchange Commission.
The San Mateo, Calif., company operates a private exchange on which retirees can buy Medicare-related coverage.
Medicare is the federal government's health coverage program for the elderly and disabled. Extend Health says it receives most of its revenue from Medicare supplement, Medicare Advantage and Medicare Part D prescription drug plans.
Medicare Advantage plans are privately run versions of the government's Medicare program for the elderly and disabled. Subsidized by the government, the plans offer basic Medicare coverage topped with extras like vision or dental coverage or premiums lower than standard Medicare rates.
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