Yes, that is exactly what it is saying. God was expounding upon the concept of election and that certain individuals - those chosen by Him - that they would become saved.
You stopped reading too soon. Salvation is not offered to all. Look at the "us" and "we" below. Those who become saints, by election, they, and they alone, become/became those saved.
[Eph 1:1, 3- 7 KJV]
1 Paul, an apostle of Jesus Christ by the will of God, to the saints which are at Ephesus, and to the faithful in Christ Jesus: ...
3 Blessed [be] the God and Father of our Lord Jesus Christ, who hath blessed us with all spiritual blessings in heavenly [places] in Christ:
4 According as he hath chosen us in him before the foundation of the world, that we should be holy and without blame before him in love:
5 Having predestinated us unto the adoption of children by Jesus Christ to himself, according to the good pleasure of his will,
6 To the praise of the glory of his grace, wherein he hath made us accepted in the beloved.
7 In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace;
You stopped reading too soon. Salvation is not offered to all. Look at the "us" and "we" below. Those who become saints, by election, they, and they alone, become/became those saved.
[Eph 1:1, 3- 7 KJV]
1 Paul, an apostle of Jesus Christ by the will of God, to the saints which are at Ephesus, and to the faithful in Christ Jesus: ...
3 Blessed [be] the God and Father of our Lord Jesus Christ, who hath blessed us with all spiritual blessings in heavenly [places] in Christ:
4 According as he hath chosen us in him before the foundation of the world, that we should be holy and without blame before him in love:
5 Having predestinated us unto the adoption of children by Jesus Christ to himself, according to the good pleasure of his will,
6 To the praise of the glory of his grace, wherein he hath made us accepted in the beloved.
7 In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace;