Aug. 19 at 12:07 AM
Costco is expanding beyond groceries and consumer goods into healthcare insurance, partnering with nonprofit insurer SCAN Group to offer jointly branded Medicare Advantage and Medicare supplement plans. The move would make Costco the latest major consumer brand to enter the health-insurance market and could allow members to access insurance products through the retailer’s extensive warehouse network.
The partnership reflects Costco’s strategy of deepening relationships with its large, loyal customer base by adding services that go beyond its traditional retail offerings. Medicare Advantage could be particularly attractive to Costco’s older members, potentially creating a new source of revenue while strengthening customer retention.
The move also highlights growing competition in the Medicare market, where insurers and consumer brands are seeking new ways to reach beneficiaries.
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