You most likely go to Costco for your groceries, prescriptions, and reading glasses. Soon, you may be able to pick up your Medicare coverage there, too.
Costco has announced a new partnership with SCAN Health Plan, one of the largest nonprofit Medicare Advantage plans in the country. Together, the two companies plan to launch what they are calling a suite of senior-focused insurance products.
The plans are still awaiting regulatory approval, so nothing is available quite yet. But here is what the partnership could eventually include:
- A revamped pharmacy experience
- Medflex over-the-counter pharmacy benefits
- Vision care coverage
- Audiology and hearing benefits
When the plans do launch, they will be sold inside Costco stores. They will also be available through insurance agents and websites.
Right now, SCAN Health Plan serves members across 33 counties in six states: California, Arizona, Nevada, Texas, New Mexico, and Washington. The companies have not announced an exact launch date.
The idea behind the partnership is to fix something many of us know all too well — the frustrating, disconnected experience of trying to navigate Medicare coverage. SCAN Health said the initiative was designed to address the quote-unquote disjointed experience that many seniors face accessing care and services.
Dr. Sachin Jain, CEO of SCAN Group and SCAN Health Plan, put it plainly. He said older adults want healthcare that is easier to navigate, more responsive to their needs, and rooted in organizations they trust.
Costco CEO Ron Vachris echoed that sentiment. He pointed to more than 40 years of Costco earning member trust by delivering value on essential goods and expanding health service offerings. He called the SCAN partnership an extension of that commitment.
No price details or enrollment timelines have been released yet. Keep an eye on your local Costco and Costco.com for updates as regulatory review moves forward.
