U.S. retail giant Walmart has silently been making moves to expand its healthcare portfolio. According to reports citing a new job posting on its website, Walmart is apparently making preparations to start its own healthcare insurance company.
The Arkansas-based company reportedly posted a new job opening for a company called Walmart Insurance Services LLC on its own website. The listing was looking for candidates interested in applying for an insurance agent job in the Dallas area. It further stated that hired applicants will be directly selling supplemental Medicare insurance to existing and new customers. The job posting noted that the new company was in need of passionate health insurance professionals that can help build the business from the ground up.
On Wednesday, Walmart had confirmed that it would soon be selling health insurance plans in the US. According to several reports citing official sources, Walmart had filed for the registration of the business with the Arkansas secretary of state in late June.
While the company had confirmed that it was indeed starting a health insurance business, it declined to provide any further details about its plans, its products, or pricing. Walmart spokesperson, Randy Hargrove, mentioned in an interview that the company is always looking for ways to provide more value to its customers by making their lives better and helping them save money.
Starting a health insurance business apparently made a lot of sense as it would help achieve the company's mission. Walmart currently refers its Walmart Health clinic customers to third-party health insurance providers. It also has an education program, called Healthcare Begins Here, which assists its customers in finding the best health insurance solutions that suit their needs.
Walmart previously partnered with health insurance provider Humana in the establishment of its own Walmart-branded Medicare prescription drug program. The latest news effectively means that Walmart will likely no longer be depending on such partnerships as it will now become its own broker.
Walmart has been completely transparent about its broader ambitions of expanding its business. The company has made a number of acquisitions as part of the strategy. Last month, Walmart inked a deal to acquire tech startup CareZone, a company that specializes in medication management systems.
Walmart has also been actively expanding its primary-care clinic network, with the opening of four new Walmart Health clinics this year. The company stated that it plans to open more clinics before the year ends. Walmart's clinics offer a variety of low-cost services, including affordable packages such as its annual checkup program for just $30.