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Costco plans to sell Medicare plans with SCAN Group
USA Today • • business
Key Points:
- Costco is partnering with nonprofit insurer SCAN Group to offer jointly branded Medicare Advantage and supplemental plans in select states, pending regulatory approval.
- The new Medicare plans will focus on benefits for older adults, including pharmacy, vision, hearing, and over-the-counter products, leveraging Costco's reputation with seniors.
- SCAN CEO Sachin H. Jain emphasized the goal of creating simple, transparent, and easy-to-use Medicare plans that address common hurdles faced by older adults.
- After approval, SCAN representatives are expected to assist customers directly at Costco retail locations, complementing existing sales channels like brokers.
- Medicare Advantage plans differ from traditional Medicare by potentially limiting provider networks and using prior authorization, but the partnership aims to offer accessible and straightforward benefits.
