Best Buy’s health offerings now serving 1 million seniors, with a goal of 5 million in fiscal 2025

Bloomberg

Best Buy Co. Inc. says it’s now serving 1 million seniors through its health offerings, with the goal of serving 5 million by fiscal 2025.

Best Buy’s health initiatives aim to help seniors stay in their homes, which they say reduces health-care costs and stress for families.

“Today, most of the seniors we serve are utilizing easy-to-use mobile phone products and connected devices that are tailored for seniors and come with a range of relevant services,” said Best Buy Chief Executive Corie Barry on the earnings call, according to a FactSet transcript.

Best Buy is also providing a “Five-Star Service” that connects customers with U.S.-based agents who can send emergency professionals, act as a concierge and more.

Best Buy has been making inroads into the health space through its GreatCall devices and services and the acquisition of Critical Signal Technologies, a monitoring business that has a supplemental benefit covered by the Medicare Advantage plan.

In addition, Best Buy has added a practicing emergency doctor, Dr. Daniel Grossman, as chief medical officer.

Besides the continued focus on health offerings, Best Buy also discussed fulfillment and delivery expansion, with New York prominent in the rollout and trial of new services.

During the quarter the company opened 175 alternate pickup locations at UPS Stores and CVS Health locations in New York, and curbside pickup is rolling out in New York. And the retailer is adding in-home advisors in order to capitalize on what the company sees as an “untapped opportunity” in the market.

In New York, Los Angeles and Chicago, online customers can order until 8 p.m. and receive their purchase for free the next day. 

And nationally, the company has added 100 in-home advisors, with a total of 720 at the end of the quarter.

Best Buy reported third-quarter earnings and revenue that beat expectations. Same-store sales growth of 1.7% also beat the FactSet consensus with the company, with appliances, tablets, headphones and computing the drivers.

The results sent shares soaring nearly 10% in Tuesday trading.

Despite the good news, GlobalData Retail also identifies challenges, including a cautious consumer spending environment.

“Our data show that consumers are more reticent to buy big-ticket items now than they were at the start of this year,” wrote Neil Saunders, managing director at GlobalData. 

Still, Best Buy has an advantage, thanks to a strong mix of stores and e-commerce, with data showing that customers who see an item in person are more likely to make the purchase.

Wells Fargo thinks tariffs could be an issue going forward.

“Q4 will be telling with six fewer holiday selling days, a ramping promotional environment and tariffs just beginning to enter the gross margin line,” analysts led by Zachary Fadem wrote. “Looking further ahead, we see reason for fiscal 2021 optimism on an improving product lineup (5G, 8K TV, gaming consoles), and easing compares, but in our view, tariffs remain the single biggest sticking point for shares today.”

Best Buy has been making inroads into the health space through its GreatCall devices and services and the acquisition of Critical Signal Technologies, a 

Why brighter headlights are better

(BPT) - The end of daylight saving time marks the start of longer, darker nights. That means many of us will spend more time over the next few months driving in the dark, relying on our headlights to light the way. Are your headlights up to the task?

If you have older halogen headlight bulbs, they may not be. That’s a safety concern. Sylvania Automotive’s Headlight Savings Time campaign highlights headlight safety.

Halogen headlight bulbs actually dim over time — up to 20-30%. As halogen bulbs age, the glass walls haze, blocking some of the light. Also, the filaments become faceted and thin in some places, leading to irregular light distribution.

Unfortunately, most drivers are unaware of this fact, not realizing they need to replace bulbs before they wear out. Or, drivers will only replace one bulb, even though the other bulb is most likely the same age and already worn, creating an uneven field of vision. A good rule of thumb is if you can’t remember the last time you replaced your headlights, it’s probably time.

“As the leading headlight manufacturer in North America, educating drivers about headlight safety is important to us. Tires, brakes, and wipers are synonymous with driver safety, but headlights and headlight replacement need to be part of the safety conversation,” said Joe Verbanic, managing director of Sylvania Automotive. “Your headlights are the most important safety device when driving at night. If you can’t see what’s on the road ahead of you, your tires and brakes can’t be used effectively.”

Verbanic added, “During the day, your vision is limited by just your eyesight. But at night, your headlights define your field of vision. You can’t react to what you don’t see, which means better headlights lead to safer driving.”

A 20-30% dimming of your headlights means less light on the road and makes a huge difference at night, especially when traveling on dark roads with minimal overhead lighting. A recent AAA study found that over 80% of the vehicles on the road have halogen headlights, and that these lights may fail to safely illuminate dark roads at speeds as low as 40 mph.

When it comes to replacing your headlight bulbs, you have options. Not all halogen headlight bulbs are created equal. Most halogen headlights that come with new cars are basic level bulbs. They’re OK. They meet minimum requirements. Upgraded bulbs go far beyond basic bulbs to offer brighter, whiter light, and farther downroad visibility.

So, with the end of daylight saving time, it’s time to think about your headlights. Headlights are your first line of defense. To stay safe, make sure yours are providing the best protection. For more information, visit https://headlightsavingstime.com.

Questions on Social Security

Q. I applied for a replacement Social Security card last week but haven’t received it yet. When should I expect to receive my new card?

A: You’ll usually receive your replacement card in about 10 days. We work hard to protect you, to prevent identity theft, and to ensure the integrity of your Social Security number. To do that, we have to verify documents you present as proof of identity. In some cases, we must verify the documents before we can issue the card. For more information about your Social Security card and number, visit www.socialsecurity.gov/ssnumber.

RETIREMENT

Q: How are my retirement benefits calculated?

A: Your Social Security benefits are based on earnings averaged over your lifetime. Your actual earnings are first adjusted or “indexed” to account for changes in average wages since the year the earnings were received. Then we calculate your average monthly indexed earnings during the 35 years in which you earned the most. We apply a formula to these earnings and arrive at your basic benefit. This is the amount you would receive at your full retirement age. You may be able to estimate your benefit by using our Retirement Estimator which offers estimates based on your Social Security earnings. You can find the Retirement Estimator at www.socialsecurity.gov/estimator.

DISABILITY

Q: My husband has been in poor health for some time, and doctors have recently diagnosed him with Amyotrophic Lateral Sclerosis (ALS) – commonly referred to as Lou Gehrig’s Disease. I’ve heard Social Security has a “fast track” for some people who are disabled. Can you tell me about it?

A: We have two processes to “fast track” applications for disability benefits. Our Compassionate Allowances initiative allows us to fast track certain cases of individuals with very severe disabilities. There are dozens of different types of disabilities that qualify for this expedited decision, including ALS, and that list continues to expand. Learn more about Compassionate Allowances and see the full list of conditions at www.socialsecurity.gov/compassionateallowances.

Another way we speed up decisions is with our Quick Disability Determinations initiative, which uses technology to identify applicants who have the most severe disabilities and allows us to expedite our decisions on those cases. Read more about Quick Disability Determinations at www.socialsecurity.gov/disabilityresearch/qdd.htm.

MEDICARE

Q: How do I terminate my Medicare Part B (medical insurance)?

A: You can voluntarily terminate your Medicare Part B (medical insurance). Because this is a serious decision that could have negative ramifications for you in the future, you’ll need to have a personal interview with a Social Security representative first. The representative will help you complete Form CMS 1763. This form isn’t available online. To schedule your interview, call us at 1-800-772-1213 (TTY: 1-800-325-0778) Monday through Friday from 7:00 a.m. to 7:00 p.m., or contact your nearest Social Security office. For more information, go to www.medicare.gov.