Healthcare solutions provider Anthem Inc has partnered with Walmart Inc to launch a program in January 2019 that will allow its Medicare Advantage plan customers to purchase over-the-counter medications from the retailer's stores and website.
"Walmart is committed to making healthcare more affordable and accessible, and we are in constant pursuit of new ways to deliver on this commitment," said Sean Slovenski, senior vice president, Health and Wellness, Walmart US.
"We are thrilled to be working with Anthem to provide its Medicare Advantage members with convenient access to our broad assortment of high-quality over-the counter products – all available at everyday low prices."
Anthem said the program will provide OTC drugs and health-related items, such as first aid supplies, support braces, and pain relievers at reduced costs.
Medicare Advantage Plan
The Medicare Advantage plan, which competes with the traditional Medicare fee-for-service program, provides healthcare coverage to about 17 million Americans and is offered by insurers including UnitedHealth Group Inc, and Aetna Inc.
Leerink analyst Ana Gupte said the collaboration emphasizes Anthem's increasing focus and success on Medicare Advantage growth post the margin turnaround, adding the tie-up modestly dampens the likelihood of a near-term Humana deal or JV with Walmart.
Earlier this month, insurer Humana Inc, which has a co-branded Medicare drug plan with Walmart, said it was looking to expand its tie-up with the retailer.
The Walmart-Humana partnership offers a prescription drug plan that saves up to 20% in drug costs for customers.
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