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Costco to offer Medicare Advantage plans with SCAN in select states
The partnership would add Costco-branded Medicare Advantage coverage in two states, plus a Medicare supplement plan in a third, pending regulatory approval.
Costco is partnering with nonprofit insurer SCAN Health Plan to expand into health coverage, offering Costco-branded Medicare Advantage plans in two states and a Medicare supplement plan in a third state, pending regulatory approval.
The move targets an area expected to grow in importance as Costco’s customer base ages. Medicare Advantage has become a major part of the U.S. healthcare system, with an estimated 35 million Americans enrolled in a plan, according to KFF.
Costco’s plans are designed to leverage its existing relationship with members and its broader services footprint, while SCAN brings insurance expertise. SCAN already operates Medicare Advantage plans and serves nearly 460,000 members across six states.
In a statement shared by Yahoo Finance, SCAN CEO Ron Vachris said Costco has listened to members for decades and earned their trust, and that selecting SCAN is an extension of its effort to deliver a better healthcare experience for seniors.