Costco Wholesale Corporation partnered with nonprofit insurer SCAN Group to enter the Medicare market. The company will launch co-branded Medicare Advantage plans in two states. A Medicare supplement plan will debut in a third state.
Specific locations and launch dates remain pending regulatory approval. These plans will integrate with existing Costco services including prescription drugs, vision, and over-the-counter medications.
The initiative leverages Costco’s membership base to offer accessible insurance options. This move diversifies Costco’s business model and creates a new revenue stream in the healthcare sector.