Select Health teams with Kroger on co-branded Medicare Advantage plans
Select says the plan offerings will increase access to options and services that promote health and wellness.
Photo: FG Trade/Getty Images
Select Health and Kroger Health, the grocer's healthcare division, have announced a co-branding relationship for Medicare Advantage plan offerings effective January 1, 2024.
These new co-branded plans will be offered in select counties in four states: Colorado, Idaho, Nevada and Utah. Select said the plan offerings will increase access to options and services that promote health and wellness, and provide customer savings on groceries and prescription medications.
Kroger stores in these states include Smith's, King Soopers, City Market and Fred Meyer.
WHAT'S THE IMPACT?
"Many Medicare beneficiaries shop at the local Kroger Family of Company stores in their community, and many fill prescriptions at Kroger Family of Pharmacy locations," said Jason Worthen, Select Health vice president of government markets. "These new products are designed to be simple and directly support our mission to help people live the healthiest life possible.
"They will be the perfect option for Medicare-eligible Kroger shoppers, especially those with chronic conditions who could use additional support," he said.
Select Health said the partnership was part of its commitment to provide better access to health services and resources.
The company promised that Medicare beneficiaries would have more choices and experience more value in their Medicare Advantage options "that significantly contribute to better health outcomes."
Details about the 2024 Select Health and Kroger Health Medicare Advantage plans will be shared on October 1, the company said.
THE LARGER TREND
The focus on Medicare Advantage is unsurprising given the program hit a milestone this year: According to recently released data from the Centers for Medicare and Medicaid Services, Medicare Advantage now provides Medicare coverage for just over half of eligible beneficiaries.
In January 2023, 30.19 million of the 59.82 million people with both Medicare Part A and Part B were enrolled in a private plan, the numbers show.
According to an analysis from the Kaiser Family Foundation, enrollment in Medicare Advantage has increased dramatically in recent years. In 2007, less than one in five (19%) eligible Medicare beneficiaries were enrolled in a private plan. The growth in enrollment is due to a number of factors, said KFF, including the attraction of extra benefits offered by most plans, such as vision, hearing and dental services, and the potential for lower out-of-pocket spending, particularly compared to traditional Medicare with the need for supplemental coverage.
Original Medicare continues to decline, losing 339,000 enrollees this year – a significant but smaller loss than previous years. A total of 29.5 million beneficiaries are now enrolled in a Medicare Advantage plan, according to Chartis.
Twitter: @JELagasse
Email the writer: Jeff.Lagasse@himssmedia.com
