Hy-Vee Medicare Aisle is being offered as part of Hy-Vee Financial Services, a branded package of financial products provided through its Midwest Heritage banking, insurance and investment subsidiary. Offerings include checking and savings accounts, auto and home insurance, home mortgages, consumer loans and pet insurance. The company said it also plan to add life and health insurance plans within the year.

"Hy-Vee Medicare Aisle is committed to helping our customers select the coverage plan that best meets their health care needs, preferences and budget," said Tony Kaska, chairman, CEO and president of Midwest Heritage. "Our high-touch, personalized approach allows our customers to be confident in their selections and feel prepared for their future health care journey."

Besides expanding Hy-Vee's financial services, Hy-Vee Medicare Aisle adds to the retailer's health care-related assets. The company operates about 270 in-store and freestanding pharmacies across its trade area, providing a full range of pharmacy care, immunization and wellness services. In addition, Hy-Vee has more than 70 in-store retail health clinics; owns and operates two specialty pharmacies and in late 2020 launched its own pharmacy benefits manager.

The announcement continues the trend of major retailers expanding into the health care space. Starting last year, Walmart Insurance Services began selling Medicare plans in Texas.

Currently, 20% of the U.S. market is covered by Medicare, according to statistics from Kaiser Health, and that number is expected to increase as the country's population continues to age. Walmart has been working closely in recent years with other insurance carriers who provide Medicare Advantage plans, allowing it better target its products to consumers.

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