Why a Costco membership makes sense for seniors & retirees

For most Americans, retirement isn’t just a time of leisure—it’s also a period of careful budgeting. Seniors living on fixed incomes from Social Security payments and retirement account withdrawals often need to monitor their spending carefully to ensure they don’t run out of funds while maintaining a comfortable lifestyle in their golden years. 

According to Empower, the second-largest retirement services company in the U.S., the median household income for individuals aged 65 plus in 2024 (the latest year for which census data is available) was just $56,680.

And while some retirement expenses, like rent and groceries, can be relatively predictable, health-related costs can vary significantly. Paying for a Costco membership is one way seniors can ensure they have access to affordable options—not just for household items and groceries, but also expenses relating to vision, hearing, and general health. 

5 ways seniors can save on essentials at Costco

Here, we highlight the top five ways a Costco membership can specifically help seniors and retirees save on essentials. 

1. Discounted prescriptions

89% of Americans 65 or older rely on prescription drugs to treat, manage, or prevent various health issues, according to the KFF, a national health information nonprofit. Costco’s in-house pharmacies make it easy for seniors to pick up their prescriptions while shopping—and often at lower prices than the competition. 

Costco offers a discounted prescription program that allows members to purchase most prescription medicines at exclusive discounts without insurance. For instance, Costco offers Atorvastatin Calcium (the generic for Lipitor), a common lipid-lowering drug taken by many seniors, for $10.79, despite the drug costing $15 or more at most other major pharmacies. 

Related: Costco vs. Sam’s Club: Memberships, prices & perks compared

Costco’s pharmacies also accept most insurance plans, including Medicaid and Medicare, but its discounted prescription program cannot be used in conjunction with insurance, so members should compare medication costs between their own insurance, if applicable, and the discounted prescription program. 

Costco’s pharmacies also offer same-day prescription delivery services, which can come in handy for seniors who don’t drive or are frequently housebound due to health or mobility issues. Costco members can manage their prescriptions, refills, and deliveries online, and for orders over $35, same-day delivery is free. 

2. Affordable vision services

The vast majority of seniors aged 65 or better require some form of prescription vision correction, like eyeglasses or contact lenses.

Most Costco stores include in-house vision clinics that offer eye exams, frames, lenses, and custom lens coatings at affordable prices for members, even without insurance (though they do accept most vision insurance).

Exact eye exam prices vary by location since the optometrists who staff Costco’s vision centers are independent, but eyeglass exams tend to cost less than $100, while contact lens exams can cost around $50 more. 

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Because Costco buys in bulk and uses low markups, its prices for frames and lenses tend to be more affordable than other brick-and-mortar retailers, even for the complex prescriptions that many seniors require, including progressive lenses.

Costco also doesn’t usually charge extra for lens coatings, including anti-scratch and anti-glare. 

3. Affordable hearing aid services

In addition to its optical centers, most Costcos also have hearing aid centers, where members can have their hearing evaluated and purchase hearing aids from a number of name brands. 

Hearing tests are free for members, and so are service appointments for hearing aid devices purchased at Costco that need adjustment. 

Costco offers hearing aids from a number of major brands, often at lower prices than competitors due to the large volume of devices the company purchases. 

Additionally, Costco offers its own Kirkland Signature brand hearing aids, which start at around $1,400 to $1,600—around half the price of similar hearing aids from brands like Rexton, Phonak, and ReSound. 

Related: How much is a Costco membership? Your 2 options explained

4. Cheap vitamins and supplements

Many seniors like to supplement their diet with various vitamins and supplements to support healthy aging. Costco boasts a massive vitamin and supplement inventory, with discounted and bulk offerings from well-known brands like Centrum Silver, Nature Made, and Nature’s Bounty.

Costco also offers Kirkland Signature brand vitamins and supplements, which tend to be cheaper than their brand-name competitors. For instance, a 500-tablet bottle of Kirkland Signature daily multivitamins is just $19.99.  

5. Bulk groceries and household essentials

Between discounted prescriptions, affordable in-house vision and hearing services, and a massive selection of discount supplements, Costco has a lot to offer its senior members. But the rest of its inventory is also a goldmine for savings. 

The cheap gas and discount bulk deals on groceries and household essentials that Costco is known for make the warehouse club an excellent one-stop shop for seniors. With a single visit to their local club, a shopper can restock their pantry, closets, and bathroom, refill their prescriptions, top off their car’s tank, get their hearing aid serviced, and end their visit with a delicious and affordable treat from Costco’s iconic food court.

Costco also accepts food stamps for eligible grocery items, so seniors with SNAP benefits can use their EBT cards to stock up on groceries when they visit. For most senior members, savings on retirement essentials quickly outweigh Costco’s $65 annual membership fee.

Related: Does Sam’s Club take EBT? How to use food stamps at the warehouse club