Costco Partners with SCAN Group to Offer Medicare Advantage Plans
Costco Wholesale and nonprofit insurer SCAN Group have announced plans to jointly sell Medicare Advantage and supplement insurance products. The partnership aims to leverage Costco's trusted brand to reach more seniors, starting in two states for Medicare Advantage offerings and a third state for Medigap policies. These markets collectively serve around five million Medicare enrollees. The collaboration is part of an evolving landscape where health insurers are adjusting strategies amid rising costs in the healthcare market. SCAN’s CEO emphasized that their products will be tailored to Costco's values, focusing on quality and value for seniors who prefer familiar brands they trust. This move contrasts with other providers scaling back benefits or exiting markets due to financial pressures. The partnership also reflects a broader trend of insurers aligning with well-known consumer brands to increase visibility and credibility among older adults. Similar collaborations include UnitedHealthcare’s work with AARP, though previous partnerships like the one between Walmart and UnitedHealthcare have ended.
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Topics: Costco Medicare retail partnerships SCAN Group