Costco Health Insurance Review 2024
Costco health insurance averages between $335 and $712 per month, depending on your ZIP code. Costco health insurance can be purchased through well-known insurance providers such as Oscar or Blue Cross Blue Shield. Our Costco health insurance review reveals that purchasing these plans through Costco is only available to members.
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Jeff Root
Licensed Insurance Agent
Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...
Licensed Insurance Agent
UPDATED: Apr 18, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Apr 18, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- To buy Costco health insurance, you must be a Costco member
- You can access Costco health insurance plans from well-known providers like Oscar or Blue Cross Blue Shield
- Depending on the state you live in, Costco health insurance costs between $335 and $712 per month
Costco sells pretty much everything. So why not offer health insurance too, right? They have food, toiletries, household cleaning items, clothing, and more. But should you consider purchasing Costco health insurance plans?
While it’s a great place to stock up on household essentials (and try some free samples while you’re at it), you may be questioning whether buying health insurance through Costco would be a good decision. We’ll answer this question below in our Costco health insurance review.
Before continuing, be sure to enter your ZIP code above to compare Costco health insurance quotes with top insurance providers in your area.
What is the Costco health insurance marketplace?
Costco entered the insurance market several years ago to offer property and casualty (auto/home/renters) policies on behalf of Ameriprise Financial and it must have worked out pretty nicely, because not long after they went on to partner with mega health insurer Aetna when they created the so-called Costco Personal Health Insurance program.
How much does Costco health insurance cost?
This looks to have since been replaced as a result of the Affordable Care Act, and now Costco simply offers health insurance quotes. Check the average cost of health care by state below.
Average Health Insurance Rates by State
| State | Average Monthly Health Insurance Rates | Average Annual Health Insurance Rates | % Change From Average National Health Insurance Rates |
|---|---|---|---|
| National | $495 | $5,940 | 0.00% |
| West Virginia | $712 | $8,540 | 43.79% |
| New York | $701 | $8,413 | 41.64% |
| Wyoming | $670 | $8,039 | 35.34% |
| Vermont | $649 | $7,786 | 31.09% |
| Louisiana | $629 | $7,545 | 27.02% |
| Nebraska | $615 | $7,379 | 24.24% |
| Massachusetts | $599 | $7,184 | 20.95% |
| California | $588 | $7,056 | 18.80% |
| Alaska | $572 | $6,869 | 15.65% |
| Nevada | $566 | $6,792 | 14.36% |
| South Dakota | $561 | $6,730 | 13.30% |
| Missouri | $548 | $6,572 | 10.65% |
| New Jersey | $543 | $6,521 | 9.79% |
| Oklahoma | $539 | $6,464 | 8.83% |
| Florida | $528 | $6,336 | 6.68% |
| North Carolina | $521 | $6,247 | 5.18% |
| Illinois | $517 | $6,203 | 4.44% |
| Alabama | $514 | $6,163 | 3.76% |
| Delaware | $513 | $6,154 | 3.61% |
| Kansas | $511 | $6,138 | 3.34% |
| Connecticut | $505 | $6,062 | 2.07% |
| Tennessee | $495 | $5,937 | -0.05% |
| Texas | $492 | $5,900 | -0.67% |
| Arizona | $490 | $5,877 | -1.05% |
| Georgia | $489 | $5,874 | -1.11% |
| Mississippi | $485 | $5,821 | -1.99% |
| Utah | $477 | $5,730 | -3.54% |
| Idaho | $477 | $5,723 | -3.64% |
| Kentucky | $470 | $5,641 | -5.03% |
| Oregon | $467 | $5,603 | -5.67% |
| South Carolina | $462 | $5,550 | -6.56% |
| Indiana | $462 | $5,543 | -6.68% |
| Wisconsin | $461 | $5,527 | -6.95% |
| Iowa | $451 | $5,411 | -8.91% |
| Montana | $449 | $5,393 | -9.21% |
| Pennsylvania | $449 | $5,218 | -9.29% |
| Hawaii | $446 | $5,353 | -9.87% |
| Virginia | $443 | $5,318 | -10.47% |
| Ohio | $435 | $5,223 | -12.07% |
| Maine | $431 | $5,172 | -12.93% |
| Arkansas | $426 | $5,112 | -13.94% |
| Rhode Island | $417 | $4,999 | -15.84% |
| North Dakota | $410 | $4,923 | -17.12% |
| Michigan | $402 | $4,828 | -18.71% |
| Washington | $394 | $4,734 | -20.30% |
| Colorado | $377 | $4,524 | -23.84% |
| Minnesota | $362 | $4,340 | -26.93% |
| New Mexico | $350 | $4,196 | -29.36% |
| Maryland | $344 | $4,122 | -30.60% |
| New Hampshire | $335 | $4,024 | -32.25% |
Aetna was the company that underwrote the policies and paid insurance claims under the old setup. Today, the company works with an insurance broker by the name of Custom Benefit Consultants, Inc. (CBC) to provide customers with affordable Costco health insurance. And you do not need to be a member to get Costco health insurance quotes.
Once you access Costcoquote.com, you’ll be able to compare Costco health insurance rates in your state. You can see other aspects of your Costco membership at costcoquote.com/mycostco.
The Costco health insurance marketplace currently offers quotes for individual plans in all states except for Washington D.C., Hawaii, Maryland, Massachusetts, New York, Rhode Island, and Vermont. Costco health insurance is available in Washington state. Costco health insurance costs are in line with ACA marketplace prices.
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Does Costco offer individual health insurance?
Does Costco sell health insurance? In short, yes. Costco individual health insurance can be purchased through well-known insurance providers such as Oscar or Blue Cross Blue Shield.
Costco members may also receive additional benefits or discounts on some of these plans. However, as with all Costco health insurance plans, purchasing these plans through Costco is only available to members.
Other Costco Health Insurance Products
You can apply for the following health insurance coverage via Costco’s Health Insurance Marketplace:
- Family Health Insurance
- Costco Small Business Health Insurance
- Short Term Medical
- Medicare Insurance Programs
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Read more: Types of Health Insurance Coverage
What’s the benefit of using Costco?
The Costco insurance marketplace might be up your alley if you are one of the millions of Americans who:
– Do not qualify for health insurance through your employer
– Feel your employer’s health care plan is simply too expensive
– Are self-employed
Back when they were partnered with Aetna, there were apparently savings from selling insurance online (versus in-person we assume) that were passed on to the Costco customer. Basically, this meant that Costco-Aetna health insurance policies cost less than Aetna policies sold via traditional channels.
However, it didn’t mean they were guaranteed to be the most cost-effective health insurance plans out there when compared to plans from other health insurance providers. Costco-Aetna health insurance reviews were mixed.
This made sense, as Aetna probably spent much less money on advertising. In fact, they expected to sell more insurance while spending less on advertising.
Also, there was a deal in place to purchase prescriptions from Costco, resulting in lower copays for those who opted for the Costco-Aetna health insurance plan. This may have been a lifesaver for those who purchased medication on a regular basis.
Today, you can take advantage of Costco’s partnership with Health Advocate, a company that can help you better navigate the complex and confusing health insurance industry.
The service matches you with a personal health advocate, generally a registered nurse (RN), who can assist you with a variety of tasks such as finding the best doctors/hospitals, researching treatment methods, resolving billing issues, and more.
It’s kind of like a health insurance concierge. Other than that, it appears that the Costco health insurance marketplace is exactly that — an online health insurance quote marketplace.
You can probably get the same exact quotes on other websites that compare health insurance providers.
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Free samples and an insurance agent?
Thankfully, no. Costco will not have insurance representatives handing out free samples of Lipitor to get us to buy their health insurance in bulk.
This is going to be an online program on the Costco website for the time being. Really, it’s just an online quote marketplace and not much more than that. You will, however, be able to grab a brochure from in-store employees should you decide you want a little information before hitting the Costco website to check out Costco health insurance premiums for members.
This type of dual marketing is likely to be repeated with many large retailers across the United States. There is really almost no way to lose for either company.
Custom Benefit Consultants, Inc. gets access to a large group of people for which they have a lot of information based on Costco’s raw consumer data, and Costco gets to earn a hefty commission by acting as an insurance broker, while taking no actual risk (i.e. not paying out health insurance claims).
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Is there any downside to getting health insurance from Costco?
Costco medical insurance plans may be a little too simple for individuals with complex needs and financial situations. It may be better to seek an insurance company that offers more flexible or customizable policies.
You may also find that the brokers and agents you work with through Costco and CBC cannot offer you as much in-depth guidance or advice. They may also appear a little biased in order to convince you to purchase a Costco health care plan.
Lastly, if you are not a Costco member, you will not be able to purchase a policy. Costco health care insurance is for members only. Therefore, instead of paying for a Costco membership, you may be able to save some money by just purchasing your health insurance plan elsewhere. However, this could mean having to pay higher rates at another provider.
If you do choose to go this route, make sure you shop around first. Compare prices and benefits between different companies. If you don’t see anything else that fits what you’re looking for, then consider signing up for a Costco health insurance plan.
What Is The Cost Of A Costco Plan?
There are two types of coverage available when shopping for health insurance. These include individual and family coverage.
Streamlining Experience With Costco Health Insurance Claims Process
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
Costco health insurance offers a convenient and user-friendly claims process through various channels. Policyholders can file claims online, over the phone, or via mobile apps. This flexibility ensures that members can choose the method that best suits their preferences and needs.
The online platform provides a seamless experience, allowing users to submit claims with just a few clicks. Additionally, the availability of mobile apps enhances accessibility, enabling members to file claims on the go, ensuring a hassle-free process.
Average Claim Processing Time
Costco health insurance is known for its efficient claim processing system. The company strives to provide prompt service to its policyholders. While specific processing times may vary based on the nature of the claim, Costco is committed to quick and timely claim resolutions.
Members can expect their claims to be processed in a reasonable timeframe, allowing them to receive the necessary assistance without unnecessary delays.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback is a valuable indicator of an insurance provider’s performance. Costco health insurance has garnered positive reviews from customers regarding their claim resolutions and payouts. Policyholders appreciate the company’s responsiveness and dedication to resolving claims effectively.
The efficient handling of claims and fair payouts have contributed to high levels of customer satisfaction. Members have reported a smooth experience when dealing with Costco’s claims department, making it a reliable choice for health insurance coverage.
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Unveiling Digital and Technological Features of Costco Health Insurance
Mobile App Features and Functionality
Costco health insurance offers a feature-rich mobile app designed to enhance the overall customer experience. The app provides users with convenient access to their insurance policies, allowing them to view coverage details, track claims, and manage account information seamlessly.
With user-friendly navigation and intuitive interfaces, the mobile app ensures that members can easily navigate through various features. From policy information to claims status updates, the mobile app empowers users with comprehensive control over their insurance-related activities, all within the palm of their hands.
Online Account Management Capabilities
Costco’s online account management capabilities are robust and user-centric. Policyholders can log into their accounts via the official website, gaining access to a plethora of services. Through the online portal, members can review policy documents, update personal information, make premium payments, and track claims.
The secure online platform prioritizes user privacy and data protection, providing a safe environment for managing insurance-related tasks. Costco’s commitment to seamless online account management ensures that members have easy and convenient access to essential services.
Digital Tools and Resources
In addition to its mobile app and online portal, Costco health insurance offers a range of digital tools and resources to educate and assist members. These resources include informative articles, FAQs, and interactive tools that help individuals make informed decisions about their health insurance coverage.
The digital tools provide valuable insights into policy options, coverage details, and healthcare-related topics. By leveraging these resources, members can enhance their understanding of their insurance plans, enabling them to make well-informed choices that align with their healthcare needs.
What’s the bottom line?
Insurance can be complicated … especially when it comes to health insurance.
It is always recommended that you speak to an insurance agent for help navigating the insurance waters. What may seem like a great deal based on the premium may not be the best option for your individual needs.
If Costco is able to find you a health insurance product that best fits your needs and also saves you some money, then this could be a great route to take. Of course, the only way to be sure is to compare multiple accurate online insurance quotes from several health insurers while consulting with a professional to determine your needs before making your final purchase.
Ready to buy Costco health insurance? To compare Costco health insurance quotes from companies in your area, enter your ZIP code below.
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Jeff Root
Licensed Insurance Agent
Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.