What to Know for Wednesday, August 19th, 2026: |
1: Costco launching Costco-branded Medicare Advantage plans with SCAN Group — targets 2-3 states covering ~5M enrollees pending CMS approval |
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Costco partners with nonprofit insurer SCAN Group to offer Costco-branded Medicare Advantage plans in two states and Medicare supplemental plan in a third: Target markets combined include approximately 5 million Medicare enrollees — plans pending federal CMS regulatory approval; specific states, premiums, benefits, and provider networks not yet disclosed — CEO Ron Vachris: "For more than 40 years, Costco has consistently listened to our Members and earned their trust delivering consistent value" — moves into $500B+ Medicare Advantage industry dominated by traditional insurers. Integration with existing Costco health services: plans would include pharmacy experience refresh, Medflex over-the-counter benefits, vision, audiology, hearing services: Costco already provides prescriptions, eyewear, and hearing services for SCAN's current Medicare Advantage customers — partnership leverages Costco's existing trusted brand and health-service infrastructure — SCAN Health Plan currently covers ~500,000 members across six states (California, Arizona, Nevada, Texas, New Mexico, Washington). Industry analyst: Costco's entry could force traditional insurers to compete on simplicity and value: Move comes as Medicare Advantage insurers navigate rising costs, coverage denials, and payment reductions — Humana exiting 600K+ members in 2027; Cigna sold Medicare business last year — bringing trusted consumer brand into Medicare could disrupt competitive landscape — long-term financial impact on Costco unclear pending partnership structure details and regulatory approval timeline.
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➜ Read the full article from CNBC here. |
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2: 2027 Social Security COLA tracking 3.1% after July CPI data — needs only tiny inflation shifts to reach 3.0-3.2% range |
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One-third of 2027 COLA calculation complete: July 2026 CPI-W published August 12 shows 3.4% year-over-year increase, setting 3.1% tracking rate vs. 2.8% received in 2026: COLA determined by averaging CPI-W for July-August-September 2026 compared to same three months 2025 — July CPI-W index at 327.104 vs. Q3 2025 baseline average 317.265 — two months unmeasured; August data arriving September 11, final September data mid-October when SSA announces official COLA same day. Small price movements easily move COLA between 3.0-3.2%: each tenth of percentage point equals roughly $2/month on $2,000 benefit (~$24/year): If August/September average just 0.08% below July: rounds to 3.0% — if 0.07% above July: rounds to 3.2% — energy index alone could swing it (fell 1.5% in July but up 14.7% year-over-year) — treat 3.1% as range center, not forecast; anyone publishing confident 2027 number today is overconfident. Medicare Part B premium announcement in November determines actual raise beneficiaries retain — Part B deducted directly from Social Security checks: 2026 showed pattern: COLA increased 2.8% while Part B jumped 9.7%, eroding effective raise — this year Part B projected 3.25% increase (lower than COLA for first time since 2023) — beneficiaries won't know true purchasing power gain until November when CMS announces 2027 Medicare numbers.
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➜ Read the full article from Benefits Insider News here. |
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3: Medicare and Social Security scams target seniors via spoofed calls, AI-generated voices, urgency tactics — five prevention tips protect personal data and benefits |
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Government impersonation scams exploit seniors' trust and concern about benefits through threats (suspended SS number, frozen Medicare), urgent deadlines, requests for personal info: Scammers pose as Medicare/SSA via unsolicited calls, texts, emails, social media ads claiming need to "verify" Medicare number, reactivate suspended Social Security, or process refunds — demand Social Security number, Medicare number, bank details, passwords, verification codes, or unusual payments (gift cards, wire transfers, crypto) — Medicare doesn't cold-call; SSA never suspends numbers or demands immediate payment. Warning signs include unsolicited contact, pressure to act now, requests for personal information, payment demands in unusual forms, threats/intimidation, spoofed caller IDs appearing official: AI-making scams increasingly convincing with polished scripts, cloned voices, personal details already known to caller — 73% of Medicare scam ad impressions on Facebook reach users 65+ — never provide details during unexpected calls; hang up and independently verify through official numbers on cards/mail, not numbers scammers provide. Five prevention strategies: never share info unexpectedly; verify claims independently through official contacts; review Medicare statements for unrecognized services; prepare simple response before suspicious call arrives; consider identity theft protection adding monitoring layer: If already compromised, immediately contact institution using official number, review account activity, check Medicare records for strange claims, consider fraud alert/credit freeze if SSN exposed — quick action reduces identity theft/financial damage risk.
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➜ Read the full article from Fox News here. |
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Here’s What You Missed on YouTube: |
Check out our new YouTube videos for Wednesday, August 19th. |
Social Security's New Plan: The 3 Moves That Protect Your Check |
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Social Security's New Plan: The 3 Moves That Protect Your Check |
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This newsletter is for information only. Always confirm your options directly with Social Security, Medicare, Medicaid, or a qualified advisor before making big decisions about your benefits. |
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