Do your clients use Medicare Advantage over-the-counter drug cards? How does that work?
Answered by 13 licensed agents
The Over The Counter (OTC) benefits are pretty nice and most of the people I work with will use them. All of the different plans vary some on how to use them. Some plans will give you a card to use at different locations and some you can log in or phone in your order of OTC items and they are mailed to you at no additional cost. All of the plans also vary on how much they will give you in extra OTC benefits. This past year, most of the plans cut the OTC benefits down 30-50% from last year. I feel this is a direct result in how much the government will subsidize these plans and my thought process is that the next couple years, I could easily see the government continue to cut the amount of money given back to these plans. Again, just my thoughts.
There is not a Medicare advantage over the counter drug card. There are over the counter benefits in many of the plans to buy things like vitamins, band aids, toothpaste, etc. Debit cards that are issued by some MAPD companies for over the counter items can be used at stores such as Walmart, Walgreens etc. for approved items. Most MAPD plans include the Part D prescription plans for prescriptions, not over the counter items.
Yes most of my clients use the OTC card provided by the insurance carrier. The carrier gives a list of stores you can use it in. At the stores on the price tags it says OTC, so you know which items you can buy with it.
You can also order from a catalog the insurance carrier sends you or has uploaded onto your portal. They make it pretty simple to use. Just categorize those items at check out, swipe your card and go.
One of the nice perks of an Advantage plan is the ordering of OTC products from the company's catalog each quarter at no cost to you. They will deliver it to your door by either the USPS or UPS. The allowance varies from company to company. If you don't use the entire amount by the end of the quarter, you lose it but the new quarter starts all over again with the same initial amount. The products are anything from toothpaste, baby powder, aspirin, mops, etc. If you have stocked up on all items needed, you can order for your relatives, neighbors and friends. Why not use this benefit?
some insurance companies provide these cards that are limited $ and expire. Usually once per quarter. However, the plans that offer these will usually increase your max out of pocket costs, which you incur when you are ill. Typically will be 7000-10000 dollars per year.
The more perks they offer you for free as bait, the more it costs you when you get ill.
Yes, most of my clients rely on the OTC benefits monthly or quarterly.
Some carriers offer cards where you can purchase items in retail stores and some give you an option to set up a profile on their website site to order online or to call in the OTC 3rd party program to place an order monthly or quarterly.
Yes they do, they get vitamins, supplements, pain relievers such as Tylenol and much more, toothpaste, toothbrush, healthy food items, i continence supplies, etc.
Many Medicare Advantage (Part C) plans include a separate drug card benefit that provides extra savings or allowances for over-the-counter (OTC) medications or prescription drugs. These cards help lower out-of-pocket costs for items not fully covered by traditional Medicare. Over the counter items include: cold medicine, vitamins, first aid items, and other non-prescription items.
I advice all my clients to use every penny of the over the counter! It depends on the plan you have, you can have a health card that looks like an atm, you can have a separate benefits card ir you may have to order from a catalog. Feel free to contact me for mor information.
Medicare Advantage plans that offer over-the-counter (OTC) allowances will load the benefits either onto a prepaid debit card or on a membership card to be used per the plan guidelines for the year. This offers members a convenient way to shop online or at specific retailers for these OTC products.
My clients use their OTC cards at local pharmacies, Walmart, Kroger, etc. to purchase vitamins, toothbrushes, rubbing alcohol, bandaids, etc. What they can purchase depends on their company & what their plan includes. They can sometimes use it to purchase groceries or even on their utilities as well. In addition to their healthcare card, they receive a “flex card”, “u card”, or “spending card” with a preloaded quarterly or monthly amount. Most of the time it looks like a credit card, has a number, expiration date, & CVC code. They can usually use it in store or for purchases online.
