Costco membership price increase is 'a question of when, not if': CFO

Costco members can expect to pay more for their membership in the near future.

In a call with investors this week, Costco's Chief Financial Officer Richard Galanti said, "It's a question of when, not if" the company will raise its annual membership.

Costco's current basic Gold Star membership costs $60 per year. Its most expensive executive membership costs $120 per year.

A membership increase would be the first since 2017, and it would impact nearly 130 million shoppers at Costco's 591 stores across the country.

Earlier this week, Costco announced it is now offering members online health checkups for as low as $29.

The retailer is offering the new service in partnership with Sesame, a direct-to-consumer health care marketplace that connects medical providers nationwide with consumers.

The CNNWire contributed to this report.