Retail giant Walmart, the nation's number one retailer announced that it plans to be the number one health care provider in the retail industry.
The company released a statement last Monday and announced new health insurance initiative.
Around half of 4,300 Walmart's stores will be featuring DirectHealth.com licensed agents. These agents will help consumers shop for health insurance as well as navigate Obamacare's health insurance exchanges. This is under Walmart's new partnership with DirectHealth.com.
The new program will begin on October 10, Friday and will be known as Healthcare Begins Here. The program will run for an estimated two months. The Medicare open enrollment period will begin by next week. On the other hand, the open enrollment period for the Affordable Care Act's health insurance exchanges will begin in November.
The retail giant has picked a segment of the health care industry that's ripe for disruption by catering to consumers who shop for health insurance.
Almost two-thirds of the population has problems understanding how to pick the right insurance plan. Also, around 40 percent have buyer's remorse. After the consumer purchases a plan, they will think afterwards if they have indeed chosen the right plan. This data is from a senior vice president and president of Health & Wellness for Wal-Mart.
The retail group has spent years trying to position itself to move into the health care space. The company has already launched a generic drug program as well as tested out retail clinics. They have also spoken at health care conferences.
Wal-Mart's Diab told the Washington Post that "Our goal is to be the number one health-care provider in the industry. And the more we broaden our assortment, the more we broaden our offering, the more we educate the customer. Walmart is a great place to create a one-stop shop."
