Wal-Mart is exploring the idea of building a private health insurance exchange tailored to offer cheaper health insurance to small businesses, according to a report from the Orlando Business Journal.
The business publication said Marcus Osborne, vice president of health and wellness payer relations for Wal-Mart Stores Inc.,recently gave the keynote speech at a Florida 2013 Health Care Affordability Summit and shared details of Wal-Mart’s intentions.
The business journal reports 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 health insurance exchange would provide an array of products for small businesses similar to the options that large employers enjoy with exchanges like those administered by Aon Hewitt.
The details have yet to be worked out, according to the Osborne who reportedly said, “We haven’t got it all figured out, but it’s one of the things we’re looking at.”
A Wal-Mart corporate spokeswoman confirmed Monday (Jan. 14) that the company is looking at the opportunity but had no details to report at this time.