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Target Corporation Executive Summary

545 Words3 Pages

Target Corporation (NYSE: TGT) today announced plans to open a new Health and Wellness Department (HWD), available in all stores by June 1, 2018. This pilot program will provide health related products and programs to registered customers at a discounted cost based on their income. According to CEO, Brian Cornell, “we are very proud of this announcement as it will provide positive approaches to healthcare and contribute to the overall wellbeing of the 1,828 communities Target serves. Parents will have the resources they need to care for their children and teach them the importance of health at a young age, with easy access and at a low cost.” As stated in the Target Corporate Fact Sheet, the average household income for Target shoppers …show more content…

Customers with an income greater than $120,000 are not eligible for enrollment. Cornell further stated, “It is no secret that many people cannot afford to pay for their prescriptions at the pharmacy. Even with health insurance that includes a prescription drug benefit, the copayments alone can be a prohibitive. We designed this program to reduce the need for expensive health insurance and generate more competition in prescription drugs.” According to the Gallup-Sharecare Well-Being Index, 28 million Americans are uninsured. These citizens will have access to more affordable healthcare products and services at Target. Customers will register for the program in-store and provide their Social Security number. Target ascertains customer’s income from Internal Revenue Service (IRS) records. Target will pay a fee to the IRS for each transaction and an annual fee for access to records. The company will receive tax credit for discounted

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