Costco to Offer Medicare Plans for Older Adults

Costco is partnering with SCAN Health Plan to improve Medicare services for seniors. The partnership aims to simplify healthcare access and provide benefits like pharmacy services, eye care and over-the-counter medication benefits.

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Costco is partnering with SCAN Health Plan to improve Medicare services for seniors

The partnership aims to simplify healthcare access and provide benefits like pharmacy services, eye care and over-the-counter medication benefits

“We have developed a shared understanding of what matters most to the seniors we serve,” said Costco CEO Ron Vachris

Costco is working to “enhance the Medicare experience” with a new partnership.

The partnership between Costco and SCAN Health Plan aims to provide older adults with “more value and better experience” when dealing with Medicare, the two companies announced on Tuesday, Aug. 18. The partnership aims to combine Costco’s longstanding consumer trust with SCAN’s expertise in helping seniors navigate Medicare.

Dr. Sachin H. Jain, CEO of SCAN — a nonprofit organization that works to address healthcare inadequacies for older adults — said in a statement that Medicare Advantage should become more accessible to older people and easier to navigate, which this partnership seeks to address.

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“Older adults want healthcare that is easier to navigate, more responsive to their needs and rooted in organizations they trust,” Jain said. “Our expanded partnership with Costco will give us a strong foundation to explore new ways to help people stay healthy and independent while delivering the quality, value, and service both of our organizations are known for.”

The partnership will include a “suite of senior-focused insurance products.” The plan’s offerings may include a “re-invented” pharmacy experience, over-the-counter medication benefits, ear and eye care.

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Costco CEO Ron Vachris said in a statement that the wholesale grocer has earned trust not only in its products, but also in its various health service offerings, and the new partnership is “an extension of that commitment.”

“We have developed a shared understanding of what matters most to the seniors we serve,” Vachris said. “Deepening our partnership allows us to build on that foundation and create value for our members.”

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The plans are pending regulatory review and approval, per the announcement.

News of Costco’s partnership with SCAN comes months after the wholesale grocer announced a discounted fertility treatment program for its members. The program came about through a partnership between Costco, healthcare company Sesame and fertility company IVI RMA North America.

Some fertility medications can cost upwards of $1,000, but the new partnership allows members to purchase certain fertility drugs at up to an 80% discount.

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