Walmart Ups Health Care Game With Walmart Insurance Services
Walmart Inc. WMT is committed toward providing quality health care services at affordable and transparent prices. In this regard, the company unveiled Walmart Insurance Services, LLC, — a licensed insurance brokerage. The newly-launched service will start offering Medicare insurance plans during this year’s Annual Enrollment Period, which begins from Oct 15 and continues till Dec. 7.
Notably, Walmart Insurance Services that provides services in all 50 states as well as Washington D.C. will work with a team of licensed insurance agents. Notably, it will float Medicare plans (Part D, Medicare Advantage and Medicare Supplement plans) that are provided by UnitedHealthcare UNH, Humana HUM, Amerigroup, Anthem Blue Cross Blue Shield and Simply Health among others. Apart from these, Walmart expects to introduce news carriers in the future.
Management stated that per a recent study conducted by eHealth only one in 10 Medicare beneficiaries is signed up for a plan that is the most cost-effective in terms of out-of-pocket spending. Well, with the help of Walmart Insurance Services people can easily enroll into insurance plans that are best suited for them.
Apart from the Walmart Insurance Services, the company’s money-saving $4 generic prescription program, Walmart Health locations and Healthcare Begins Here program have been providing impressive heath care services at affordable rates for a while now.
What Else Should You Know?
Walmart, which shares space with Kroger KR, is benefiting from rising demand for grocery and general merchandise items amid coronavirus-led stay-at-home trends. In fact, stay-at-home trends are boosting e-commerce sales, which soared 97% at Walmart’s U.S. segment during second-quarter fiscal 2021.
Given the higher stay-at-home trends, this retail behemoth is committed to enrich consumers’ experiences by providing easy shopping methods and seamless grocery deliveries. To this end, its recently launched Walmart+ membership program is likely to be fruitful. Further, Walmart unveiled Express Delivery during the first quarter of fiscal 2021 at several stores, which helps it deliver orders to customers in less than two hours. Prior to this, the company unveiled the Delivery Unlimited membership option for 1,400 U.S. stores during the third quarter of fiscal 2020. Also, it launched WalmartInHome Delivery across three markets and same-day pickup at all of Mexico’s Sam’s Club locations. Clearly, management is committed toward sustaining its business, despite the pandemic.
We note that shares of this Zacks Rank #2 (Buy) company have gained 18.4% so far this year compared with the industry’s growth of 18.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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