Costco Partners with SCAN Group to Launch Branded Medicare Plans
Costco Wholesale Corporation and SCAN Group, a nonprofit insurer, announced on Tuesday that they are teaming up to introduce Medicare plans branded under Costco. This marks the retailer's first effort in the Medicare market. The launch will feature Medicare Advantage plans in two states, along with a Medicare supplement plan in a third state, pending approval from the Medicare agency. The Wall Street Journal reported that details regarding which states will be involved and the launch timeline remain under wraps as they await federal clearance.
Key facts
- Costco Wholesale Corporation and SCAN Group announced a partnership on Tuesday.
- The partnership will sell Costco-branded Medicare plans.
- This marks Costco's first entry into the Medicare market.
- The plans will start with Medicare Advantage products in two states.
- A Medicare supplement plan will be offered in a third state.
- The launch is pending regulatory approval from the Medicare agency.
- The Wall Street Journal reported the announcement.
Entities
Institutions
- Costco Wholesale Corporation
- SCAN Group
- Wall Street Journal
- Medicare
Sources
- Quartz —