Costco reveals shock new line of products in bid to make healthcare 'more accessible for millions of Americans'

Costco has announced a shock move to sell Medicare plans in a bid to provide 'more accessible' healthcare to Americans. 

The savings retail giant announced plans for a limited rollout of Costco-branded Medicare Advantage plans, the Wall Street Journal revealed. 

The announcement said that Costco would be working with SCAN Group, a nonprofit insurer, to sell the plans in Costco stores. 

Richard Stephens, the senior vice president for pharmacy at Costco, told the outlet that the company was inspired to help older people they have seen struggle with their coverage.

'[Costco members] know that if they buy something from Costco, it has been vetted, and we feel it’s the best thing in the category,' he said. 

'That’s really what we’re trying to do with this particular product.'

SCAN and Costco told the outlet that the two companies would sell their jointly named Medicare Advantage products across two states, with a Medicare supplement in a third. 

Executives with both companies that their market includes the five million Medicare enrollees. The exact locations where the plans will be available remains unclear, the Journal reported.   

Sachin Jain, SCAN's chief executive, told the outlet that the Medicare Advantage plans will integrate with Costco’s offerings across prescription drugs, vision, over-the-counter medications, food and hearing products. 

'We are trying to create something that’s incredibly simple for people to use that will enable them to seamlessly access their benefits,' he said.

The plans won't be sold as part of Costco memberships, under federal regulation, and are set to offer seniors a private version of Medicare benefits.

According to Stephens, the plans are a pilot plan and said: 'We plan to learn from it, and we plan to make sure that we have the right product for our members.'

The Daily Mail reached out to SCAN Group and Costco for comment.

The retail giant's pharmacy has been part of Costco's warehouse model for decades, offering prescription medications, vaccinations, health screenings and pet medications alongside its wholesale groceries and household goods.

It requires no membership to use in many states because pharmacies are generally required by law to be open to the public.

The move comes after Costco announced it was preparing to crack down on its controversial new 'VIP hour,' a perk that gives executive members exclusive access to stores before everyone else, leaving many regular members feeling pushed aside.

Beginning September 1, Costco employees will strictly enforce the policy after a two-month grace period, meaning shoppers with standard memberships could be turned away if they attempt to enter stores during the exclusive shopping window.

Under the rules, only executive members will be allowed to shop from 9am to 10am on weekdays and from 9:30am to 10am on Saturdays. All other members must wait until 10am before they can enter.

Costco insisted that the new policy is simply an added benefit for premium members. Critics argue it effectively penalizes everyone else by restricting access during the first hour of business.

The company said the perk is intended to reward its most loyal customers with a quieter and less crowded shopping experience.