LifeMD Expands Insurance Acceptance to Medicare Beneficiaries for Qualifying Virtual Primary Care, Including in its Weight Loss Programs
Rhea-AI Summary
LifeMD (NASDAQ: LFMD) has announced expanded insurance acceptance to Medicare beneficiaries for qualifying virtual primary care services, including weight management programs. Initially available to over 21 million Medicare Part B beneficiaries in 26 states, the company plans to extend access across 49 states by Q2 end, potentially serving more than 60 million Medicare beneficiaries.
The expansion follows two years of investment in operational readiness and regulatory compliance. The company highlights that approximately 75% of Medicare beneficiaries are overweight, obese, or managing at least one cardiometabolic condition. While Medicare Part B covers virtual consultations for obesity and chronic conditions when medically necessary, Medicare Part D coverage for GLP-1 medications is currently to specific conditions.
Through the LifeMD platform, customers will have access to synchronous medical care, urgent prescriptions and refills, and laboratory services through Quest and Labcorp. This initiative aligns with LifeMD's strategy to diversify payor mix and strengthen recurring revenue streams.
Positive
- Expansion to serve 21 million Medicare Part B beneficiaries, with potential growth to 60 million
- Strategic diversification of payor mix and strengthening of recurring revenue streams
- Partnership with major lab services providers Quest and Labcorp
- Targeting large addressable market with 75% of Medicare beneficiaries being overweight or having cardiometabolic conditions
Negative
- Medicare Part D coverage for GLP-1 medications restricts potential revenue from weight management programs
- Current Medicare telehealth flexibilities only guaranteed through September 2025
News Market Reaction
On the day this news was published, LFMD gained 8.05%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
LifeMD’s virtual care services now available to over 21 million Medicare Part B beneficiaries in 26 states, with 49-state access to qualifying services expected by the end of Q2
NEW YORK, April 17, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, today announced expanded acceptance of insurance to Medicare beneficiaries for qualifying care. Initially available to more than 21 million Medicare Part B beneficiaries in 26 states, the company expects to expand access to medically necessary services for more than 60 million Medicare beneficiaries nationwide, with access to qualifying services across 49 states anticipated by the end of the second quarter.
"We are proud to announce that LifeMD now accepts Medicare Fee-For-Service for qualifying virtual primary care, including such care provided in our weight management program – an important step forward in expanding access to essential care for older Americans. This launch follows two years of focused investment in operational readiness and regulatory compliance, positioning LifeMD to serve the growing Medicare population with confidence and at scale,” said Justin Schreiber, Chairman and Chief Executive Officer of LifeMD.
“A significant portion of the Medicare population lacks convenient access to a primary care provider – especially in rural or underserved areas – making it difficult for older adults to receive timely, preventive care. At the same time, approximately
“Virtual consultations for patients with obesity and other chronic conditions are covered by Medicare Part B when medically necessary, yet Medicare Part D coverage for GLP-1 medications is currently generally limited to patients with cardiovascular conditions and obstructive sleep apnea, in the case of Zepbound®, among others,” he added. “Despite this, recent polls have shown overwhelming bipartisan support for Medicare and Medicaid coverage of GLP-1 drugs. We remain optimistic that a near-term solution will emerge to enable broader access to these life-saving medications.”
Recent legislation authorized an extension of Medicare Telehealth Flexibilities through September 30, 2025. Under this extension, Medicare beneficiaries can continue to receive telehealth services from a wide range of locations, including from their home. According to the American Telemedicine Association, Congress and the current administration have stated their support for a permanent solution to reestablish all telehealth provisions. According to KFF, at the end of 2023,
Customers using the LifeMD platform will have access to synchronous medical care, urgent prescriptions and refills, and laboratory services through Quest and Labcorp.
This expansion of acceptance of insurance to Medicare aligns with LifeMD’s long-term strategy to diversify payor mix, strengthen recurring revenue streams, and address underserved populations through scalable, technology-driven care delivery. As telehealth adoption accelerates, LifeMD is well-positioned to capture meaningful share within the growing Medicare market.
About LifeMD, Inc.
LifeMD® is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men’s and women’s health, weight management, and hormone therapy. The Company leverages a vertically integrated, proprietary digital care platform, a 50-state affiliated medical group, a 22,500-square-foot affiliated pharmacy, and a U.S.-based patient care center to increase access to high-quality and affordable care. For more information, please visit LifeMD.com.
Cautionary Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: “believe,” “expect,” “anticipate,” “project,” “should,” “plan,” “will,” “may,” “intend,” “estimate,” “predict,” “continue,” and “potential,” or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition.
Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, “Risk Factors” identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods.
Any forward-looking statement made in the news release is based on information currently available to us as of the date on which this release is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable law or regulation.
Investor Contact
Marc Benathen, Chief Financial Officer
marc@lifemd.com
Media Contact
Jessica Friedeman, Chief Marketing Officer
press@lifemd.com
FAQ
What is the scope of LifeMD's Medicare coverage expansion announced in April 2025?
Does Medicare cover GLP-1 medications through LifeMD's virtual care platform?
What services will Medicare beneficiaries access through LifeMD's platform?
How long will Medicare telehealth flexibilities remain in effect for LFMD services?
What percentage of Medicare beneficiaries used telehealth services at the end of 2023?
