In a surprise move, retail corporation Walmart has entered the health insurance market – and has even begun hiring licensed insurance agents for its new business.
The company announced in a virtual conference that it would start selling health insurance plans with the creation of “Walmart Insurance Services LLC.” MedCity News reported that the new business’s name was first filed with the Arkansas Secretary of State late last month.
“We currently offer access to insurance information in our Walmart Health locations, and we have a long-standing education program called Healthcare Begins Here to help people find the right insurance plan for them,” a Walmart spokesperson said in an email statement. “We’re expanding our current insurance services to now include the sale of insurance policies to our customers.”
In another email statement to CNBC, Walmart confirmed the creation of an insurance agency, but spokesperson Randy Hargrove would not share details about the plans it would sell, or the pricing of those plans.
MarketWatch said that Walmart has created a new posting on its website, on its Careers webpage. The company indicated on the webpage that it is now looking to hire several Medicare Insurance Agents for Walmart Insurance Services. Once hired, the agents will begin work the first week of August.
“You will be responsible for helping the Medicare community in a meaningful way, by enrolling customers in Medicare products and services over the phone,” the posting says.