Over The Counter Benefits
Many people are unaware of the many ancillary benefits that accompany taking a Medicare Advantage plan. These benefits typically include; vision, dental, hearing and over-the-counter (OTC) advantages. It is worthy noting that Medicare Supplement (Medigap) plans do not include any of these additional benefits. These extra benefits are a big draw for many when choosing their route of health insurance once becoming eligible for Medicare. For the purpose of this blog we will focus on over-the-counter benefits, as most enrollees do not know of this positive aspect of taking an advantage plan.
How It Works
Most Medicare Advantage plans carry an over-the-counter dollar amount allotted to the beneficiary. The dollar amount varies from plan to plan but typically ranges from $30-$75 per calendar quarter. This balance will replenish every quarter of the year for use, and more often than not remaining balances will not roll over to the next quarter. You may ask, how do I use this benefit? The carrier will send you a carrier branded debit card where this benefit can be used from. You are able to see your over-the-counter balance via your carrier portal. You may also ask, where can I use this benefit? You are able to use this benefit at most of the name brand grocery and drug stores, from Publix to CVS; just to name a couple.
Qualifying Products
The OTC benefit can be used for both brand name and generic products. There are certainly more qualifying products than just those listed above, but to understand your specific OTC benefit and catalog of qualifying products with your Medicare Advantage plan; speak with a licensed Poindexter representative today.
