Costco Wholesale Corp, the fifth largest retailer in the USA, has teamed up with healthcare benefits company, Aetna, to give customers access to an "affordable and comprehensive Medicare prescription drug plan".

Medicare beneficiaries now have the ability to purchase the new Aetna Medicare Rx - Costco Plus Plan, which is available in 17 states (Alaska, Arizona, California, Colorado, Florida, Hawaii, Idaho, Illinois, Michigan, Nevada, New Mexico, New York, Ohio, Oregon, Utah, Virginia and Washington)

The plan premiums range from US$50-$70 a month, depending upon the region. In addition, there is no deductible. Consumers who sign up for this plan and have their prescriptions filled at Costco will also have a maximum co-pay of US$5 for generic prescription drugs ($10 if filled at other network pharmacies), and in some cases will have no co-pay for generics.

"Teaming up with Costco, which is known for providing great value to its customers, gives us a great opportunity to reach a significant number of Medicare beneficiaries with an innovative prescription drug plan," said Frank McCauley, head of Aetna's Consumer Business Segment.

"At Costco, our members expect us to deliver better value on the things they need. By teaming up with Aetna, one of the most respected names in healthcare, we believe we have delivered on that expectation," said John Conlon, director, Costco Services.

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