What Are Some Benefits of Costco Medical Insurance?


Quick Answer

Among the benefits of Costco medical insurance is that one medical plan provides automatic coverage for prescription drug, vision, and mental health and substance abuse plans without extra pay in addition to normal coverage, according to Costco's website. Medical plans also cover preventive and routine care.

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Full Answer

The Costco provides two choices of medical insurance, the Aetna Select plan, and the Hawaii PPO and HMO plan, states Costco. The Aetna Select plan does not require members to choose a primary care provider, and members do not need referrals to access specialty care. A member pays coinsurance for services, and once a member reaches the coinsurance limit, Costco takes care of 100 percent of the services. Members also have access to online services specified for Aetna Select plan, such as Aetna Navigator and Aetna Special Programs.

Benefits even extend to when a member is on leave for up to 90 days, but the member must continue paying for the deductible whether or not he is on leave, according to Costco. If the leave days extend beyond the specified limit, a member can access medical coverage under the Consolidated Omnibus Budget Reconciliation Act, which allows him to continue existing coverage under his own payments within 60 days.

All members of Costco medical plans are eligible to enroll into the Costco reimbursement account, which is a means for saving costs because it lowers a member’s taxable income. Members can use the money saved to reimburse themselves and their tax dependents for IRS-allowed expenses.

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