WEX Unveils New Digital Solution to Enhance and Expand Medicare Advantage Platform
WEX has launched a new Medicare Advantage marketplace, a digital shopping solution integrated within its Medicare Advantage supplemental benefits platform. The marketplace enables members to purchase eligible over-the-counter (OTC) products and grocery items through an online portal, complementing the existing brick-and-mortar merchant network. The platform offers free and rapid shipping for various products, including prepared meals and fresh foods, along with call center support. This solution aims to increase product access for members in rural areas, those preferring digital experiences, and those needing in-home shopping options. The marketplace is customizable by plan type and provides health plan partners with data insights.
WEX ha lanciato un nuovo mercato Medicare Advantage, una soluzione di shopping digitale integrata nella sua piattaforma di benefici supplementari Medicare Advantage. Il mercato consente ai membri di acquistare prodotti idonei da banco (OTC) e generi alimentari tramite un portale online, completando la rete esistente di commercianti fisici. La piattaforma offre spedizione gratuita e rapida per vari prodotti, inclusi pasti pronti e alimenti freschi, insieme al supporto di un centro chiamate. Questa soluzione mira ad aumentare l'accesso ai prodotti per i membri in aree rurali, coloro che preferiscono esperienze digitali e coloro che necessitano di opzioni di shopping a domicilio.
WEX ha lanzado un nuevo mercado Medicare Advantage, una solución de compra digital integrada en su plataforma de beneficios complementarios de Medicare Advantage. El mercado permite a los miembros comprar productos de venta libre (OTC) elegibles y artículos de supermercado a través de un portal en línea, complementando la red existente de comerciantes físicos. La plataforma ofrece envío gratuito y rápido para varios productos, incluidos comidas preparadas y alimentos frescos, junto con soporte de un centro de llamadas. Esta solución busca aumentar el acceso a productos para miembros en áreas rurales, aquellos que prefieren experiencias digitales y quienes necesitan opciones de compra a domicilio.
WEX가 새로운 메디케어 어드밴티지 마켓플레이스를 시작했습니다. 이는 메디케어 어드밴티지 추가 혜택 플랫폼에 통합된 디지털 쇼핑 솔루션입니다. 이 마켓플레이스는 회원들이 온라인 포털을 통해 적격한 일반 의약품(OTC) 제품과 식료품을 구매할 수 있도록 하여 기존의 오프라인 가맹점 네트워크를 보완합니다. 이 플랫폼은 조리된 식사 및 신선 식품을 포함한 다양한 제품에 대해 무료 및 신속 배송을 제공하며, 콜센터 지원도 포함되어 있습니다. 이 솔루션은 농촌 지역에 거주하는 회원들, 디지털 경험을 선호하는 회원들 및 가정에서 쇼핑할 수 있는 옵션이 필요한 회원들을 위한 제품 접근성을 높이는 것을 목표로 하고 있습니다.
WEX a lancé un nouveau marché Medicare Advantage, une solution d'achat numérique intégrée à sa plateforme de prestations complémentaires Medicare Advantage. Le marché permet aux membres d'acheter des produits en vente libre (OTC) éligibles et des articles d'épicerie via un portail en ligne, complétant ainsi le réseau de commerçants physiques existant. La plateforme offre une expédition gratuite et rapide pour divers produits, y compris des repas préparés et des produits frais, ainsi qu'un support par centre d'appels. Cette solution vise à augmenter l'accès aux produits pour les membres vivant dans des zones rurales, ceux qui préfèrent les expériences numériques et ceux qui ont besoin d'options de shopping à domicile.
WEX hat einen neuen Medicare Advantage-Marktplatz gestartet, eine digitale Einkaufsplattform, die in ihre Medicare Advantage-Zusatzleistungen integriert ist. Der Marktplatz ermöglicht es den Mitgliedern, über ein Online-Portal berechtigte rezeptfreie (OTC) Produkte und Lebensmittelartikel zu kaufen und ergänzt das bestehende Netzwerk von stationären Händlern. Die Plattform bietet kostenlosen und schnellen Versand für verschiedene Produkte, einschließlich zubereiteter Mahlzeiten und frischer Lebensmittel, sowie Unterstützung durch ein Callcenter. Diese Lösung zielt darauf ab, den Produktzugang für Mitglieder in ländlichen Gebieten zu erhöhen, die digitale Erfahrungen bevorzugen und die in-home Shopping-Optionen benötigen.
- Launch of new digital marketplace expands service offering in Medicare Advantage sector
- Platform provides additional revenue stream through digital commerce
- Enhanced data insights for health plan partners
- None.
Insights
The launch of WEX's Medicare Advantage marketplace represents a strategic expansion of their digital healthcare solutions portfolio. The platform addresses critical market needs by combining OTC and grocery shopping capabilities with their existing benefits management system. This integration creates a comprehensive digital ecosystem that could drive increased revenue through higher member engagement and expanded service offerings.
The platform's key competitive advantages include:
- Multi-channel flexibility (online and physical retail)
- Enhanced rural area coverage
- Data analytics capabilities for health plan partners
- Customizable plan options
Digital shopping solution allows users to purchase grocery and over-the-counter products through a single integrated portal
This expands the brick-and-mortar merchant network that Medicare Advantage members already have access to with an enhanced online shopping experience that allows members to purchase eligible over-the-counter (OTC) products and grocery items within WEX’s integrated member portal. WEX’s Medicare Advantage marketplace allows members to shop the way they choose – whether that’s online or in a physical retail location.
“This innovative Medicare Advantage marketplace allows our health plan partners to elevate their member’s experience,” said Karen Stroup, Chief Digital Officer at WEX. “Delivering this platform demonstrates the agile market leadership WEX is known for – responding to a dynamically changing market with tailored solutions across the continuum of care.”
The launch of the WEX Medicare Advantage marketplace underscores the company’s commitment to making it easier for members to understand and access their benefits, including how and where they shop. It also provides health plan partners with meaningful data insights and the security and scale of WEX’s platform technology.
Health plans that partner with WEX can use the Medicare Advantage marketplace solution to increase product access and service for members in rural areas, members who prefer a digital experience, and members who need the option of an in-home shopping experience. The solution is customizable by plan type, offers free and rapid shipping for a variety of OTC products and grocery items (including prepared meals, fresh foods, and shelf-stable goods), as well as call center support for order fulfillment and related member questions.
About WEX
WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit www.wexinc.com.
Forward-Looking Statements
This press release contains forward-looking statements including, but not limited to, statements regarding the expected benefits resulting from the launch and use of the WEX Medicare Advantage marketplace. Any statements in this press release that are not statements of historical facts are forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “positions,” “confidence,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Forward-looking statements relate to our future plans, objectives, expectations, and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements, including customer satisfaction with the WEX Medicare Advantage marketplace, the Company’s ability to offer and operate the WEX Medicare Advantage marketplace as planned and the ability of the Company and its customers to realize the expected benefits of the WEX Medicare Advantage marketplace; as well as other risks and uncertainties identified in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on February 23, 2024 and subsequent filings with the Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241121379392/en/
Media:
WEX
Megan Zaroda, 610-379-6211
megan.zaroda@wexinc.com
Investors:
WEX
Steve Elder, 207-523-7769
Steve.Elder@wexinc.com
Source: WEX
FAQ
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