January 25, 2012

Extend Health Helps More Than 150,000 Seniors Evaluate and Choose Private Medicare Plans During 7-Week Annual Enrollment Period

Despite high volume, private health insurance exchange operator submits 99% of its enrollment applications to carriers within 24 hours

SAN MATEO, Calif.–(BUSINESS WIRE)–Extend Health, Inc. today announced that in the seven-week 2012 Medicare Annual Enrollment Period (AEP) that ran from October 15-December 7, 2011, it helped more than 150,000 seniors navigate the complexities of Medicare and private Medicare plans. In addition, because the Extend Health exchange platform enables end-to-end electronic transmission of enrollment information, 99% of its enrollment applications were submitted directly to carriers within 24 hours – ensuring speedy delivery of insurance cards to seniors that traditional paper processes can delay by days or even weeks.

“This is especially true during the fixed-length Medicare AEP when missing the deadline could force some seniors to have to wait a full year to get the supplemental health coverage they need.”

Said Bryce Williams, CEO of Extend Health, “Personal contact with knowledgeable and caring advisors is what makes the difference for retirees and other seniors evaluating private Medicare plans. But sophisticated exchange, call center and decision support technology is what enables Extend Health to deliver advice and advocacy efficiently to a large number of people in a short period of time with high satisfaction rates. Nothing undermines customer satisfaction faster than missed appointment times or lengthy call wait times.”

Added Williams, “This is especially true during the fixed-length Medicare AEP when missing the deadline could force some seniors to have to wait a full year to get the supplemental health coverage they need.”

Extend Health operates the largest private Medicare exchange in the country. The exchange enables retirees of major private and public sector employers and other Medicare-eligible individuals to compare their regional options from among more than 4,000 private Medicare plans from more than 75 national and regional insurance companies to obtain coverage that suits their needs.

According to Jan, a senior from Jacksonville, Florida1, “The Extend Health representative explained the new partnership between Extend Health and the company from which I had retired. He also explained what options were available for my husband and me. He discussed how Extend Health would work with us and how benefits would be paid. He knew the coverage we currently had and pointed out several changes we might want to consider that would save money and simplify paperwork. He did not push one plan over the other. He simply answered my questions clearly and concisely. With the one telephone call, we were able to save $90 a month with no loss of benefits and no additional co-pays.”

Mary, a senior from San Pedro, California, said she appreciated the “excellent service, caring, knowledge, patience and courtesy. I wish all my transactions could be handled in this excellent and professional business-like manner. How I dreaded this conversation and how happy I am it is over, and I have shed at least 50 lbs. off my already burdened shoulders.”

Robert, a senior from Naperville, Illinois, was especially happy with “Extend Health employees’ knowledge of the Medicare supplement and Medicare part D prescription drug choices and their professional and friendly way of dealing with me. In addition, Extend Health obviously must have a good computer system set up to efficiently and quickly come up with the best plan for each customer. I also like the fact that my chosen plan can be submitted immediately with no additional wait or paperwork, or extra phone calls. I think this is my third year using Extend Health and I am very pleased!”

Extend Health’s licensed benefit advisors each receive more than 200 hours of training and work in U.S. call centers where state-of-the-art routing systems direct every caller to a benefit advisor with the appropriate licensure and insurance appointments that match the caller’s geographic area and available plans. Advanced decision support tools help benefit advisors provide clear and concise guidance and support, and make it easy for retirees to select the private Medicare coverage that best suits their needs.

Over seven years, Extend Health has built a powerful and proven exchange technology platform. In addition to end-to-end electronic transmission of enrollment information, the platform enables interoperability between the exchange and participating carriers, ensuring accurate and efficient enrollment, premium administration, claims processing and reimbursements.

About Extend Health

Extend Health, Inc. founded in 2004, operates the largest private Medicare exchange in the country. For more information, visit Extend Health on the web athttp://www.extendhealth.com.

Extend Health is a registered trademark of Extend Health, Inc. Other names may be trademarks or servicemarks of their respective owners.

1 The seniors quoted are actual customers of the Extend Health private Medicare exchange. To protect their privacy, Extend Health does not disclose their last names.

Contacts

For Extend Health, Inc.
Rob Wyse, 212-920-1470
rob@WT221.com