Sam’s Club to offer private health insurance exchange targeted at small business owners

By Mike Johnson



Bentonville, Ark. --Wal-Mart Stores continues to expand its health care offerings with the announcement that its Sam's Club division will launch a private health insurance exchange for its small business members. Sam’s Club is partnering with insurance giant Aetna on the initiative.



The exchange, called The Aetna Marketplace for Sam’s Club, will be available in 18 states beginning this month to members, their employees and their families. Employers can choose whether to offer a defined contribution plan or one that gives workers a flat, pre-tax contribution to apply toward a plan of their choice.



"[Our members] have told us that they need clarity on small group healthcare," said Jill Turner-Mitchael, senior VP health and wellness at Sam's Club. "With the launch of the new Aetna Marketplace for Sam's Club, small business owners can have plan choices for their employees that are affordable, personalized and easy to use."



The key benefits of this new health exchange for small business owners include streamlined administration, budget predictability, cost control and curated options for coverage.



"With the Aetna Marketplace, Sam's business members can choose a predefined contribution or a flat pre-tax dollar amount that their employees can apply to the plan of their choice," Turner-Mitchael said. "The Aetna Marketplace for Sam's Club is an exclusive investment. We are the only retailer to provide a private small business health exchange offering big business benefits to today's small business owners."



Citing JD Power figures, Turner-Mitchael noted that 47% of employers are expected to move to a health exchange model by 2015.



The new solution complements Sam's Club's healthcare initiatives, including prescription savings, on-site immunizations (at a business owner's place of business or in the club) and 10 free health screenings per year that are open to the public.



"We know healthcare is a complex issue and we want to simplify the process of enrolling and managing healthcare for small business with Aetna," Turner-Mitchael said.



In addition to the health exchange, Sam's Club introduced new legal services and payroll services for small business owners. It will also launch a travel mobile app next month that will allow members to book travel on the go.