Walmart (NYSE:WMT) has made a move to add Medicare health insurance plans to its list of in-store offerings ahead of the start of the federal program’s Annual Enrolment Period.
Walmart launches Walmart Insurance Services for the provision of low-cost insurance plans
This is not the first time the retailer has forayed into healthcare as it launched Walmart Insurance Services LLC to offer health services at transparent and low services. The insurance brokerage at Walmart’s health locations will help customers save money by assisting them in enrolling in insurance plans, thus simplifying the confusing and cumbersome process.
Walmart Insurance Services will commence selling Medicare insurance plans during the AEP from October 15 through December 7, 2020. The program will be selling insurance to seniors above 65 and young people with disabilities who qualify for enrollment.
David Sullivan, the General Manager of Walmart Insurance Services, said that one in 10 beneficiaries of enrolled Medicare beneficiaries is in a plan that helps them save most on out-of-pocket expenditure. Sullivan added that they aim to make customers feel confident in picking a Medicare plan that fits their budget, needs, and lifestyle. He also said that their focus is becoming a trusted Healthcare partner because helping customers select the right Medicare insurance plan for their needs is in line with the company’s mission of helping them save money and live better.
Walmart offering Medicare insurance from a host of carriers
At launch, Walmart Insurance Services will offer Medicare Part D, Medicare Supplement, and Medicare Advantage plans through various insurers. The Medicare Part D plan helps in covering prescription drug costs. UnitedHealthcare, Humana, Amerigroup, Simply Health, Anthem Blue Cross Blue Shield, Wellcare (Centene), Arkansas Blue Cross, Clover Health and Blue Shield offer the Medicare plans. The insurance service is license in all the 50 states, including Washington D.C with a team of licensed agents who will help customers find the right plan for them. More carriers will be added going forward.