If you have a Medicare Advantage plan, you may be eligible for an over-the-counter (OTC) benefit that can help you pay for certain OTC medications and health-related items. The specific details of your OTC benefit will vary depending on your plan, but it may cover items such as:
· Pain relievers (such as ibuprofen or acetaminophen)
· Cold and allergy medications
· Antacids
· Bandages and other first aid supplies
· Dental care products
· Vitamins and minerals
To get money for over-the-counter items with your Medicare Advantage OTC benefit, you will typically need to:
1. Verify that your plan offers an OTC benefit. You can check your plan’s Evidence of Coverage (EOC) or contact your plan directly to find out if you have an OTC benefit and what it covers.
2. Enroll in your plan’s OTC program. Some plans require you to enroll in their OTC program before you can start using your benefit. You can typically enroll online or by calling your plan.
3. Purchase eligible OTC items from a participating pharmacy. Your plan will provide you with a list of participating pharmacies where you can use your OTC benefit.
4. Present your Medicare Advantage card and a prescription (if required) to the pharmacist. The pharmacist will process your purchase and deduct the cost of eligible items from your OTC benefit allowance.
5. Pay any remaining costs out of pocket. You may be responsible for paying a copayment or coinsurance for some OTC items, even if they are covered by your OTC benefit.
Here are some additional ways you can get money for over-the-counter items while on Medicare:
· Use a Medicare Savings Program (MSP). MSPs can help pay for your Medicare Part A and Part B premiums, deductibles, and copayments, including the cost of eligible OTC medications.
· Apply for Extra Help. Extra Help is a program that can help you pay for your Medicare Part D prescription drug premiums and out-of-pocket costs. Some Extra Help beneficiaries may also be eligible for an OTC benefit.
· Consider using a Flexible Spending Account (FSA) or a Health Savings Account (HSA). FSAs and HSAs are tax-advantaged accounts that can be used to pay for eligible medical expenses, including OTC medications.
· Look for discounts and coupons. Many pharmacies and grocery stores offer discounts and coupons on OTC medications. You can also find coupons online and in newspapers.
Remember, the specific details of how to get money for over-the-counter items while on Medicare will vary depending on your plan and your individual circumstances. It is always a good idea to contact your Medicare Advantage plan or your state Medicaid agency for more information.
