Retail

Walmart's New Insurance Brokerage To Sell Medicare Plans

Walmart Launches New Insurance Brokerage

As it expands upon its efforts to provide health services, Walmart is rolling out licensed insurance brokerage Walmart Insurance Services, LLC.

The entity will start selling Medicare insurance plans during 2020’s annual enrollment period, which runs from Oct. 15 to Dec. 7, according to an announcement.

Walmart Insurance Services will offer Medicare plans provided by UnitedHealthcare, Humana, Amerigroup and Anthem Blue Cross Blue Shield, among others. Furthermore, Walmart said more carriers could be added at a later time.

Walmart Insurance Services General Manager David Sullivan said that just one in 10 Medicare beneficiaries is signed up for a plan that maximizes their savings on out-of-pocket spending.

“We want customers to feel confident in selecting a Medicare plan that best fits their needs, budget and lifestyle,” Sullivan said in the announcement. “And we want to be a trusted partner on their healthcare journey. Helping customers select the right Medicare insurance plan to meet their needs aligns with Walmart’s mission of helping people save money and live better.”

Walmart also noted that its $4 generic prescription program and Walmart Health locations are helping shoppers “save money and live healthier.” In addition, the company noted that its Healthcare Begins Here effort has helped shoppers traverse the complicated health insurance system.

The news comes as Walmart is aiming to take its expertise at developing retail stores and lowering costs and apply it to improving the health sector.

The retailer has been slowly entering healthcare services, running low-cost clinics in South Carolina, Georgia and Texas. In June, the company opened clinics in Springdale, Arkansas and Loganville, Georgia. The clinics provide simplistic walk-in medical services in approximately 1,500-square-foot areas. They seek to provide cost-effective primary care, dental work, behavioral health, x-rays, diagnostics and urgent care. Primary care appointments come at a price of $40, while a pediatric appointment is $20.

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