Costco Seeks Regulatory Approval for Multiyear Medicare Plan
PYMNTS.com • • business
Key Points:
- Costco has partnered with SCAN Health Plan to offer healthcare services for older adults, including pharmacy experiences, Medflex over-the-counter benefits, vision, and audiology, pending regulatory approval.
- The companies plan to initially sell Medicare Advantage products in two states and a Medicare supplement in a third, though specific locations and timing remain undisclosed due to pending Medicare agency approval.
- Costco CEO Ron Vachris emphasized that the partnership aligns with Costco’s mission to provide value on essential goods and expand health services for seniors.
- SCAN Health Plan currently serves nearly 460,000 members across six states and aims to enhance healthcare accessibility and quality for older adults through this collaboration.
- A recent PYMNTS report highlights that 14% of baby boomers and seniors experience financial stress due to healthcare and wellness expenses, underscoring the importance of affordable healthcare solutions for this demographic.
