How Does a Senior Qualify for a Flex Card?

Over the past couple of enrollment periodsEnrollment periods are designated time periods to enroll or disenroll from the various parts of Medicare. There are six Medicare enrollment periods., Medicare Advantage plansMedicare Advantage (MA), also known as Medicare Part C, are health plans from private insurance companies that are available to people eligible for Original Medicare (Medicare Part A and Medicare Part B). have been hyping Flex Cards as a potential benefit without much of an explanation of what they are and who qualifies.

In this article, we’ll take a look at the Medicare Flex Card benefit and show you how you can use a Flex Card to save money on your healthcare.

Key Takeaways

A Flex Card is a legitimate additional benefit offered by some Medicare Advantage plans.
The cards can be used to pay for qualifying healthcare expenses.
The maximum amount a plan can offer on their Flex Card is $2,880 per year.
The average Flex Card benefit is around $500 per year.
Flex Cards are not free. They are part of a plan’s total benefits package.
Flex Cards are heavily marketed and a soft target for scammers.

What is a Medicare Flex Card?

A Flex Card is a pre-paid debit card, not a credit card, that Medicare beneficiaries can use to buy medical supplies, medical equipment, and other qualifying healthcare items. It is essentially a form of reimbursement for medical expenses.

These cards are often linked to flexible spending accounts (FSAs). They are an added benefit to Medicare beneficiaries enrolled in a qualified health insurance plan.

Private insurance companies issue flex debit cards on certain plans. The spending limit varies depending on the plan and the carrier.

Although the Flex Card benefit isn’t a standard feature in all Medicare Advantage plans, it is available in a few plans across the country.

Are Medicare Flex Cards a Scam?

No, Medicare Flex Cards are not a scam. However, it isn’t difficult to see how private insurance companies can use them in a slimy way to promote “free money” and free Flex Cards.

Many seniors have been lured into responding to ads that claimA request for payment that you submit to Medicare or other health insurance when you get items and services that you think are covered. you can get a Flex Card worth up to $2,880 from Medicare. This skates on the edge of false advertising.

While it is true that the maximum benefit Medicare will allow plans to offer is $2,880, that is not the amount they deposit on the Flex Card. In fact, we could not find any plans that offer Flex Cards with a benefit anywhere near that amount of money.

The spending allowance deposited on most cards is only a few hundred dollars. For the 2023 plan year, the average is $500. And funds can only be used for eligible, qualifying, medically necessaryServices or supplies that are needed for the diagnosis or treatment of your medical condition and meet accepted standards of medical practice. items.

So, why does the Center for Medicare & MedicaidMedicaid is a public health insurance program that provides health care coverage to low-income families and individuals in the United States. Services allow blatantly misleading and false advertising about Medicare benefits? It’s not that they condone it, but it takes them a while to crack down on the offending health insurance companies.

Also, remember this. It isn’t just health insurance companies that promote Flex Card. There are plenty of companies out there that make a living off of selling your information.

If an offer sounds too good to be true, it is.

Don’t fall for telemarketers trying to help you get your $2,880 Flex Card benefit out of the goodness of their hearts. They want your Social Security number, birth date, bank account number, and anything else they can use to rob you blind or sell you out.

Are Medicare Flex Cards Really Free?

Although a Flex Card might seem like a nice additional benefit, it shouldn’t be considered free.

Medicare Advantage plans often charge their enrollees an additional amount on top of their Medicare Part AMedicare Part A is hospital coverage for Medicare beneficiaries. It covers inpatient care in hospitals and skilled nursing facilities. It also covers limited home healthcare services and hospice care. and Part B monthly premiumsA premium is an amount that an insurance policyholder must pay for coverage. Premiums are typically paid on a monthly basis. In the federal Medicare program, there are four different types of premiums. . The additional amount is what pays for the additional benefits in the plan.

So, even though a plan advertises that members get a “free” Flex Card worth up to $2,880, you can bet that the cost of this benefit is baked into the additional premiums.

How Do Seniors Get a Medicare Flex Card?

The federal Medicare programMedicare is a federal health insurance program for people ages 65 and older and people with certain disabilities. does not distribute flex cards for seniors. To put it another way, these cards are not part of a government-run program.

Flex Cards are a benefit of private Medicare Advantage plans. And, as of the 2023 plan year, only a few plans offer this benefit.

This might be confusing because we’re all being bombarded with commercials touting Flex Card benefits. So, you’d think they are a common plan option. But only a few Medicare Advantage providers offer them, and only on specific plans.

Flex Cards are an extra benefit offered by some Medicare Advantage plans. To qualify, you must be enrolled in a plan that offers a Flex Card as an additional benefit.

Currently, only a few Medicare Advantage plans offer this benefit. You must live in the plan’s service area and enroll during a qualifying Medicare enrollment period.

Unlike Medicare Supplement plans, eligibility does not require you to answer health questions or go through a medical underwriting process. Joining a Medicare Advantage plan with Flex Card benefits is easy.

That said, to participate in a Medicare Advantage plan, you are required to use the plan’s provider network and follow its rules. If you don’t, you may not be covered or you’ll be required to pay out-of-network rates.

Flex cards are not available in every state or with every carrier. It is best to contact a licensed insurance agent to inquire about plans that offer this benefit.

How Do You Use a Flex Card?

You can use a Flex Card to pay for qualifying medical expenses only. These out-of-pocket costsOut-of-Pocket Costs for Medicare are the remaining costs that are not covered by the beneficiary's health insurance plan. These costs can come from the beneficiary's monthly premiums, deductibles, coinsurance, and copayments. include:

Medical equipment
CopaymentsA copayment, also known as a copay, is a set dollar amount you are required to pay for a medical service. and deductiblesA deductible is an amount a beneficiary must pay for their health care expenses before the health insurance policy begins to pay its share.
Prescription drugs
Over-the-counter (OTC) medications
Dental, vision, and hearing care
Diagnostic devices
Other medically necessary expenses

Are Flex Cards Available with Medigap Plans?

Flex Cards are not compatible with Medicare Supplement InsuranceMedicare Supplements are additional insurance policies that Medicare beneficiaries can purchase to cover the gaps in their Original Medicare (Medicare Part A and Medicare Part B) health insurance coverage. (Medigap).

Medigap plans work in lockstep with Original MedicareOriginal Medicare is private fee-for-service health insurance for people on Medicare. It has two parts. Part A is hospital coverage. Part B is medical coverage.. If a service or benefit is not covered under Medicare Part A or Part B, it can’t be covered by a Medigap plan, either. That includes the Flex Card.

Medigap plans supplement Original Medicare. They cover some of the out-of-pocket costs built into Medicare Part A and Part B, including deductibles, copayments, and coinsuranceCoinsurance is a percentage of the total you are required to pay for a medical service. .

If you have a Medigap policy that covers the Medicare Part BMedicare Part B is medical coverage for people with Original Medicare benefits. It covers doctor visits, preventative care, tests, durable medical equipment, and supplies. Medicare Part B pays 80 percent of most medically necessary healthcare services. coinsurance, you basically already have a Flex Card for all Medicare-approved expenses.

medicare.gov