Ownership of SilverSneakers: A Detailed Look
The SilverSneakers program is a well-known fitness benefit for many Medicare-eligible adults, offering access to thousands of gyms and fitness centers across the country. The ownership of this popular program has evolved over the years, involving a series of corporate acquisitions and strategic decisions that have shaped its current structure. Understanding this history clarifies the program's operations and funding model.
The Role of Tivity Health
SilverSneakers is a product of Tivity Health, Inc., a leading provider of healthy life-changing solutions based in Franklin, Tennessee. Tivity Health manages the network of partner gyms, develops class curriculums, and handles program administration. The company contracts with health insurance providers, primarily Medicare Advantage plans, to offer the SilverSneakers benefit to eligible members at no extra cost, forming the program's financial basis.
Acquisition by Stone Point Capital
A significant change occurred in 2022 when Tivity Health was acquired by Stone Point Capital, a private equity firm specializing in financial services. The $2 billion acquisition in June 2022 took Tivity Health private, removing its stock from the Nasdaq. This move provides Tivity Health with resources for growth and innovation while maintaining the core SilverSneakers program and leadership.
The Corporate History: From Healthways to Tivity
The program was founded in 1992 by Mary Swanson. In 2006, the then-owner Axia Health Management was acquired by Healthways, which later rebranded to Tivity Health in 2017. This history of mergers is common in the healthcare sector and explains the various names associated with the program.
SilverSneakers vs. Competitors
Understanding ownership helps differentiate SilverSneakers from competitors like Renew Active (UnitedHealthcare) and Silver&Fit (American Specialty Health). These programs offer similar benefits but are managed by different companies with distinct networks. Eligibility depends on a person's specific Medicare plan.
| Feature | SilverSneakers | Renew Active | Silver&Fit |
|---|---|---|---|
| Current Owner | Tivity Health (owned by Stone Point Capital) | UnitedHealthcare | American Specialty Health |
| Funding Model | Covered by participating Medicare Advantage and Supplement plans | Covered by participating Medicare plans from UnitedHealthcare | Covered by participating Medicare plans |
| Network | Network of thousands of fitness locations nationwide | Network of thousands of fitness locations nationwide | Network of thousands of fitness locations nationwide |
| Key Offerings | Gym access, online classes, social events | Gym access, brain health program, online resources | Gym access, at-home workout kits, health coaching |
What this Ownership Means for Members
For most members, the change to private ownership doesn't affect daily program use. Benefits like gym access and online classes continue through health insurance partnerships. Private ownership by Stone Point Capital provides Tivity Health with stability and capital for growth and innovation in the healthy aging market.
This structure supports the program's financial health, ensuring it remains a reliable fitness resource for seniors. A focus on virtual offerings and community activities shows a commitment to adapting to member needs.
For more information on the company's direction and other services, visit Tivity Health's official website: www.tivityhealth.com.
A Bright Future for Senior Fitness
While ownership is part of its history, SilverSneakers' success comes from its ability to adapt and provide value. The ownership change is a new chapter in its evolution. A commitment to diverse fitness and wellness options ensures SilverSneakers remains a vital part of healthy aging. Understanding this background can increase member confidence in the program's ability to support active and socially engaged lifestyles.
Conclusion
The SilverSneakers program is owned by Tivity Health, Inc., which is a private company owned by Stone Point Capital. This structure allows SilverSneakers to grow and serve millions of eligible seniors through partnerships with health insurance plans. From its founding by Mary Swanson to its current ownership, the program maintains its mission of promoting senior wellness. This ownership ensures ongoing investment and support for a key healthy aging program for Medicare recipients.
