It was announced early on Monday that Walmart Inc. (NYSE: WMT) would be partnering with Anthem Inc. (NYSE: ANTM) for seniors to buy health products at its stores. Walmart has made this deal before with Humana Inc. (NYSE: HUM) and currently offers its Medicare Advantage plan.
Anthem’s deal will begin in January, when patients who are enrolled in Anthem’s Medicare Advantage plans can use their insurance to cover some over-the-counter medications as well as other medical goods at Walmart.
Overall, this partnership will allow patients to decrease their medical expenses while helping to draw more shoppers into Walmart. The program will allow seniors to buy these goods both online and in-store.
Walmart expects this program to help contribute its e-commerce business as well as foot traffic in its stores.
CNBC reported that Felicia Norwood, executive vice president and president of Anthem’s government business division, commented:
We believe that programs like this can make a tremendous difference for healthcare consumers who often live on a fixed income or are managing chronic medical conditions.
Shares of Walmart were last seen at $97.76, with a consensus analyst price target of $103.48 and a 52-week trading range of $77.50 to $109.98.
Anthem traded at $263.82 a share, in a 52-week range of $179.40 to $268.04. The consensus price target is $289.61.