Costco, SCAN Launch Medicare Plans in 3 States for 5 Million Enrollees
Updated
Updated · Yahoo Finance · Aug 18
Costco, SCAN Launch Medicare Plans in 3 States for 5 Million Enrollees
3 articles · Updated · Yahoo Finance · Aug 18
Summary
Costco’s first Medicare push will start with Medicare Advantage plans in two states and a Medicare supplement plan in a third, reaching markets with about 5 million enrollees if regulators approve.
The retailer will market Costco-branded coverage for older adults through stores, insurance agents and other standard channels, with benefits expected to include prescription drugs, vision, audiology and over-the-counter allowances.
Federal rules bar bundling a Costco membership with the plans, and the companies have not named the states, launch timing or financial terms while approval is pending.
SCAN brings an existing Medicare footprint across 33 counties in six states, with about 460,000 health-plan members and roughly 500,000 members and patients across its broader network.
Costco and SCAN described the rollout as a pilot meant to tie insurance more closely to Costco’s pharmacy, hearing, food and vision offerings for seniors.