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Amazon Increases Prime Status

Amazon (NASDAQ:AMZN) noticed its shares listing lower Wednesday, on word the company is beefing up its mainstay Prime subscription program with a new benefit that gives members access to discounted One Medical memberships.

The company announced Wednesday that Prime members will be able to sign up for One Medical at a rate of $9 per month, or $99 a year, vs. the standard cost of $199 annually, or $16.59 a month. Prime members can add up to five additional memberships on the same plan at a rate of $6 per person, Amazon said.

Amazon is integrating One Medical into its Prime membership service after acquiring the primary health-care provider in July 2022 for roughly $3.9 billion. One Medical operates a network of boutique primary-care practices in some parts of the U.S., primarily around major cities. Users can access care from a doctor through the One Medical app, and they can also schedule virtual or in-person appointments at a brick-and-mortar location.

The tech giant has steadily added a buffet of benefits to its Prime membership program over the years as a way to lure more subscribers.

Launched in 2005, Amazon Prime gives members access to free two-day shipping, as well as access to exclusive movies and TV shows, among other perks. Membership costs $139 a year. As of April 2021, the service had more than 200 million subscribers worldwide.

AMZN shares lost 35 cents to $142.36.