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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWho's going to run your 'health insurance exchange'? Would you believe -- Walmart?
Wal-Mart is exploring the idea of building a private health insurance exchange tailored to offer cheaper health insurance to small businesses, a vice president told Orlando Business Journal Jan. 11.
Marcus Osborne, vice president of health and wellness payer relations for Wal-Mart Stores Inc. spoke to OBJ after his keynote speech at the Foundation of Associated Industries of Floridas 2013 Health Care Affordability Summit. Osborne said Wal-Mart wants to work with insurers and managed care companies to find new, low-cost health insurance options tailored for small companies, which historically have limited options.
The idea is to offer those products through a health insurance exchange or as Osborne said, simply a marketplace that would leverage Wal-Marts buying and marketing power to make the exchanges widely available and used. It would allow small employers to piggyback Wal-Mart, Osborne said. We havent got it all figured out, but its one of the things were looking at.
Central Florida is already at the cusp of what experts consider a tectonic shift on how health insurance benefits are offered: From defined benefits to defined contributions, where employers are able to contain costs by paying fixed sums to employees and having them shop in an exchange. Its been equated to the shift from pensions the defined benefit to 401K plans defined contributions from companies.
http://www.bizjournals.com/orlando/blog/2013/01/exclusive-wal-mart-exploring-private.html
upaloopa
(11,417 posts)providers because the reimbursement is so low. Many providers simply refuse to contract with them.
HiPointDem
(20,729 posts)cthulu2016
(10,960 posts)Walmart is very good at administration and price competition, and I am not real worried about Walmart out-competing the lovable mom&pop health insurance company in town because there isn't one.
The bad things about Walmart do not bear on group health insurance. With health coverage huge scale is good. The bigger the group, the lower the rates. (With single payer being the biggest possible group, and thus the most desirable)
If Walmart puts together a hugegroup of Walmart people that small businesses can buy into, adding even more scale, it's win-win.
And I cannot get too worked up about Walmart making a profit on health coverage... as opposed to who? Aetna? Wellpoint? Since we have no public option it is all for-profit.
HiPointDem
(20,729 posts)I don't want them to get bigger; I don't want them in insurance & medical care; I don't want them getting public money.
if walmart is a big player in obamacare, obamacare is an a-1 fraud.