Costco Announces Partnership to Offer Medicare Advantage Plans
Costco Wholesale (COST) announced a partnership with Scan Group, a nonprofit health insurer based in Long Beach, California. The collaboration will allow Costco members access to co-branded Medicare Advantage plans starting this year. This move comes as the company seeks to expand its services beyond retail and into healthcare offerings for senior customers. Scan Group currently serves approximately 560,000 Medicare Advantage members across Southern California, Arizona, Nevada, and New Mexico. Costco's stock rose on Tuesday following the announcement, regaining a key technical level amid positive investor sentiment about this new venture.
Tickers: $COST
Topics: Medicare Advantage Partnership Announcement Stock Movement