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LogicMark Secures Approval to Provide Essential Safety Devices Through Medicaid Waiver Programs to Seniors in Key States

1. LogicMark expands Medicaid Waiver access for seniors in six states. 2. Eligible seniors receive reimbursement for monthly monitoring fees on safety devices. 3. Integration aims to alleviate financial barriers for aging populations and caregivers. 4. The Freedom Alert Max features fall detection, medication reminders, and emergency services. 5. Major initiative in 2025 to enhance safety technology adoption among seniors.

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Why Bullish?

The expansion of Medicaid reimbursements may boost sales and demand for LogicMark's products, which can positively influence LGMK's stock performance. Similar programs have historically led to increased market awareness and financial growth for tech firms in health care.

How important is it?

The article highlights a significant program expansion, likely to drive sales and investor interest. The current trend in personal safety devices and increased Medicaid support can enhance growth prospects.

Why Short Term?

The immediate implementation of the program in 2025 suggests prompt impacts on sales and stock prices. Similar past events showcase how quick market adaptations can enhance revenue streams rapidly.

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The new program will enable seniors in Colorado, Oregon, Idaho, Utah, Nevada, and South Dakota to receive reimbursement for monthly monitoring fees when leasing LogicMark’s Personal Emergency Response Systems (PERS) January 14, 2025 09:00 ET  | Source: LogicMark, Inc. LOUISVILLE, Ky., Jan. 14, 2025 (GLOBE NEWSWIRE) -- LogicMark, Inc. (Nasdaq: LGMK), a provider of personal emergency response systems (PERS), health communications devices, and technology for the growing personal care and safety economy, today announced expanding access to its safety devices through the Medicaid Waiver system in Colorado, Oregon, Idaho, Utah, Nevada, and South Dakota. This new government integration will enable eligible individuals to receive full or partial reimbursement for monthly monitoring fees when leasing LogicMark’s medical alert devices. Eligible seniors can now access LogicMark’s renowned safety devices without incurring significant out-of-pocket costs. This initiative will help mitigate the financial barriers many fixed-income individuals face in accessing essential safety devices. The reimbursement amount, eligibility, and processes will vary by state and cover LogicMark’s Freedom Alert Mini and the Freedom Alert Max devices. This expansion into the Medicaid Waiver Program will also support caregivers by giving them better peace of mind in ensuring the safety of their aging loved ones. “We are thrilled to announce this integration with Medicaid as our aging populations deserve the utmost care without sacrificing new technologies & innovations because of cost,” said Chia-Lin Simmons, President and CEO of LogicMark. “This expansion strengthens our ability to empower seniors to live independently and safely in their homes, ultimately enhancing their quality of life and helping ease the mountain of responsibilities caregivers face in protecting their loved ones. Expanding the access to LogicMark products via the Medicaid waiver program throughout the U.S. is a major initiative for 2025, with a focused team dedicated to working closely with state and federal governments to get seniors the care they need.” The Medicaid Waiver program provides long-term care for individuals who prefer support at home rather than in institutions. These waivers enable states to adjust some Medicaid rules and offer various medical and non-medical services and options to help individuals transition from institutions to their homes and communities. Medicaid enrollees must first verify their eligibility and obtain medical justification to apply for medical alert device reimbursement. Then they can submit a Prior Approval Application, often facilitated by their caseworker. By working closely with their caseworker, applicants can streamline the process and ensure quicker, more efficient approvals. Specific application procedures may vary by state, so enrollees should contact their local Medicaid office for detailed information on medical alert coverage and reimbursement in their area. LogicMark most recently launched its most advanced medical alert device, the Freedom Alert Max, one of the two devices included in this program. It provides regular over-the-air updates, new features, and improvements, such as medication reminders, geofencing, and fall detection. An on-the-go device ready to use out of the box, the Freedom Alert Max provides 24/7 monitoring, meaning that help is always available to dispatch emergency services or alert caregivers that their assistance is needed. The other on-the-go device in this program, the Freedom Alert Mini, allows seniors to communicate directly with emergency services and includes patented fall detection technology, geofencing, and more. About LogicMark, Inc. LogicMark, Inc. (Nasdaq: LGMK) is on a mission to let people of all ages lead a life with dignity, independence, and the joy of possibility. The company provides personal safety devices, personal emergency response systems (PERS), software apps, health communications devices, services, and technologies to create a Connected Care Platform. Made up of a team of leading technologists with a deep understanding of IoT, AI, and machine learning and a passionate focus on understanding consumer needs, LogicMark is dedicated to building a 'Care Village' with proprietary technology and creating innovative solutions for the care economy. The Company's PERS technologies are sold through the United States Veterans Health Administration, dealers, distributors, and direct-to-consumer channels. LogicMark was awarded a contract by the U.S. General Services Administration that enables it to distribute its products to federal, state, and local governments. For more information, visit LogicMark.com and investors.logicmark.com.  Media Contact:logicmark@relativity.ventures Investor Contact:investors@logicmark.com

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