(Image Source: Multi Family Investor)
BY KYLIE MCGIVERN
ANCHOR AUSTIN KIM
You're watching multisource business news analysis from Newsy.
A new leader in health insurance may be just around the corner - at your neighborhood Walgreens.
“...they haven’t commented publicly about the report, tying the pharmacy to a private health insurance exchange. Changes in federal law make it possible for non-insurance companies to enter the field before 2014.”
It seems the nation’s largest drug store chain is filing a prescription for continued success as “The Pharmacy America Trusts.” Though Walgreens hasn’t officially commented yet, L.A. Times quotes its spokesperson on the matter.
“...the company is ‘looking at a number of options in light of healthcare reform as we continue to seek ways to help our customers better navigate today's healthcare system.’"
And Walgreens probably won’t be the only company getting in the game-- CNN Money reports industry watchers think others will...
“...jump into the nascent but lucrative market for health insurance exchanges... Retailers, financial services providers and a large payroll processer are among firms that are actively looking into starting private health insurance exchanges that are separate from public exchanges...”
As companies race to the 2014 finish line, a Daily Kos blogger says it is consumers who may be the real winners.
“...having a lot of companies selling a product normally encourages competition, which can drive costs down... If done right, they could be able to provide at least basic coverage for those who will be priced out of Medicaid and yet wouldn't be able to afford a the subsidy...”
And East Coast Health Insurance says-- the new venture is right up Walgreens' aisle.
“Walgreens has been changing medical practices in this country without even knowing what it was doing at first... many of the 50 million or so uninsured Americans go to Walgreens Urgent Care clinics for much of their care. This has ravaged many of the private urgent care clinics...”
There is a catch.
Consumers eligible for government subsidies won’t be able to take advantage of private exchanges, like Walgreens.
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