What's Happening?
SCAN Health Plan has announced a partnership with Costco to provide its Medicare Advantage members with significant cost savings on medications, vaccinations, and over-the-counter essentials. Costco will
serve as a preferred pharmacy, offering competitive prices for drugs and vaccines. Additionally, SCAN members can use their eyewear allowance at Costco, enhancing access to affordable vision care. The partnership includes a rewards program where members can earn up to $125 for completing health-related activities, which can be spent at Costco on healthy groceries and fitness equipment. Senthu Arumugam, SCAN's chief commercial officer, highlighted the alignment of values between SCAN and Costco, emphasizing the importance of value and quality in their collaboration.
Why It's Important?
This partnership is significant as it aims to reduce healthcare costs for Medicare Advantage members, a demographic often burdened by high medical expenses. By leveraging Costco's extensive reach and competitive pricing, SCAN Health Plan can offer its members more affordable healthcare options, potentially improving adherence to medication regimens and overall health outcomes. The collaboration also reflects a growing trend of health plans partnering with retailers to enhance member benefits and accessibility. This move could set a precedent for similar partnerships in the healthcare industry, driving innovation in cost-saving strategies.
What's Next?
Starting January 1, SCAN members in Washington state will be able to use their over-the-counter benefits at Costco locations, providing greater flexibility in how they utilize these funds. SCAN Health Day events will be hosted in 50 Costco stores, offering Medicare Advantage resources and health guidance. These initiatives aim to inform shared customers about the partnership and its benefits, potentially increasing member engagement and satisfaction.
