Clover Health and Walmart offer zero-premium health cover
Available in eight counties to approximately half a million eligible Medicare patients, the collaboration hopes to combine Walmart’s philosophy of low-priced value and Clover’s mission to transform health cover.
The latter company also came sixth in our recent . Striving to improve healthcare for both physicians and patients, the company employs a team of software engineers, data scientists and designers to produce a frictionless and people-centric experience.
Founded in 2014, Clover is rapidly gaining popularity; it reported at the start of 2020 that its uptake had outstripped the five-year industry average by 30%.
"The Walmart brand is synonymous with the best value and low prices, and that's exactly what we're doing at Clover," said Andrew Toy, President and CTO of Clover Health.
"By offering affordable insurance plans with an open network of doctors and hospitals, we are democratising high-quality care and bringing it to individuals and communities that have previously been overlooked by other insurers."
- Unlimited primary care visits
- 90 and 100-day prescription drugs (Tier 1 and 2)
- fitness programme
- Diabetes monitoring supplies
"Walmart is committed to delivering quality care at affordable prices for our customers, and we are proud to partner with Clover Health to help people get the healthcare they want and deserve," said Marcus Osborne, Senior Vice President of Walmart U.S. Health & Wellness.
"Providers in Walmart Health will use Clover's data-driven technology, Clover Assistant, to help support the healthcare journey of LiveHealthy members as they live better, healthier lives."
SIMON Insurance expands its annuities platform
The New York-based insurance and annuities services company, SIMON, has announced the launch of its expanded annuities service via its new digital platform, called LiveWell.
The valuable annuity service is issued by the Midland National Life Insurance Company and administered by Sammons Retirement Solutions - a division of Institutional Group, as the first-to-market. More carriers are cited to join SIMON’s variable annuity marketplace over the next few months.
The move means financial professionals can now find and explore Sammons’ LiveWell Variable Annuity solutions, access product-specific marketing literature, and run powerful allocation and income analytics within the product—all directly within SIMON’s interactive platform.
Tax-deferred growth for the retired
According to reports, variable annuities are favoured by savings markets because they can help accumulate assets for retirement with tax-deferred growth. They also offer agile and flexible tax-free reallocations as well as optional death benefits for heirs.
Frequently used as part of a long-term retirement planning strategy for tax-efficient growth, VAs are now available in SIMON’s Marketplace alongside fixed indexed annuities, fixed annuities, and structured annuities.
The SIMON annuities platform also provides financial professionals with centralised access to the tools and resources they need to analyse marketplace products based on their clients’ risk profiles and investment horizons.
The platform also allows investors to:
- Explore various rider illustrations
- Leverage powerful allocation analytics
- View fund options and their performance statistics
- Dive deep into the historical performance of allocations and funds
Speaking about the launch of LiveWell, Melissa Scheuerman, VP of Business and Sales Development at Sammons, explained, “Everyone seeks custom solutions today—from news feeds on our cell phones to grocery delivery services, and retirement planning is no different. Products need to offer flexibility, and professionals need intuitive tools at their fingertips to analyse and manage products that offer that flexibility.
“Our partnership with SIMON illustrates a commitment to offering scalable annuity solutions to professionals serving a growing population of retirees.”
Scott Beshany, Chief Distribution Officer at SIMON, added, “With game-changing analytics for this product class, variable annuities are a natural new addition to SIMON’s product lineup. Our Marketplace is now able to deliver a more holistic product experience, and we look forward to driving a better, more powerful VA product experience for financial professionals.”