Did you know that your Medicare Advantage plan may include Over-the-Counter (OTC) benefits? These benefits allow you to save money on essential health and wellness products—things you use every day, from pain relievers to vitamins, without dipping into your own pocket. Yet, many people don’t take full advantage of this valuable benefit.
What Are OTC Benefits?
OTC benefits allow you to purchase certain non-prescription health products using an allowance provided by your Medicare Advantage plan. This means you don’t have to pay out-of-pocket for everyday health items. OTC benefits typically cover products such as:
- Cold and flu remedies
- Pain relievers like aspirin or ibuprofen
- Digestive aids (antacids, laxatives)
- First aid supplies (bandages, ointments)
- Personal care items (toothpaste, shampoo)
- Vitamins and supplements
How to Use Your OTC Benefits
Using your OTC benefits is simple, but it can vary depending on your plan. Here’s a general guide to getting started:
- Check Your Plan’s Allowance: Each plan offers a specific dollar amount that you can use each month, quarter, or year. Make sure you know how much you’re eligible to spend.
- Review Your Catalog: Your plan will provide a catalog or list of approved OTC products. This is important because not all items you find in the store will be eligible for purchase with your OTC benefits.
- Ordering Your OTC Items: Most plans make it easy to use your OTC benefits. You can:
- Order Online or by Phone: Many insurance plans allow you to browse and order products online or via a toll-free number.
- Shop In-Store: Some plans partner with major retailers like Walmart or CVS, allowing you to use your OTC card in-store.
- Mail-Order Options: Some plans offer free home delivery, making it even more convenient to access the products you need.
Why You Should Use Your OTC Benefits
- Save Money on Essentials: OTC benefits cover products that you might already be buying out of pocket. By using this allowance, you save money while ensuring you have the items needed to manage your health.
- Keep Your Medicine Cabinet Stocked: From first aid items to everyday medications, OTC benefits help ensure that your home is always prepared for minor health issues.
- Improve Your Health Routine: Use OTC benefits to enhance your health and wellness routine with vitamins and supplements, which can promote overall well-being.
Tips for Making the Most of Your OTC Benefits
- Set Reminders: Since OTC benefits may reset quarterly, it’s important to keep track of your allowance. Set a reminder so you don’t forget to use it before it expires.
- Plan Ahead: Think about what you’ll need in the coming months. For example, stock up on cold and flu products before the winter season, or refill your vitamins when you’re running low.
- Know Your Plan’s Rules: Each plan has its own guidelines for how and where you can use OTC benefits. Be sure to review your specific plan’s details to avoid any surprises.
Do You Have Questions About Your OTC Benefits?
At Brooks & Brooks Insurance Agency, we’re committed to helping you get the most out of your health plan. If you have questions about how to use your OTC benefits or want to learn more about your Medicare Advantage options, we’re here to assist you.