What Is a Medicare Flex Card for Seniors?
Key takeaways:
The Medicare flex card is a prepaid debit card that helps eligible seniors pay for out-of-pocket healthcare costs and other approved items.
Medicare does not issue the flex card. To get the card, you’ll need to enroll in a Medicare Advantage plan that offers the program.
Not everyone in a Medicare Advantage plan will qualify for a flex card. Your eligibility and the amount of money you receive depend on your insurance carrier, the plan, and where you live.
Turning 65 comes with many benefits. You gain access to Medicare and may choose to retire. But if you haven’t saved enough money, it may be challenging to cover your expenses if you stop working.
Enter the Medicare flex card. This card can help reduce your out-of-pocket costs and save money on healthcare. But being a Medicare beneficiary is not enough to get one, and there are restrictions on what you can buy with the card.
What is the flex card from Medicare?
The Medicare flex card is a benefit offered by some private insurance companies that provide Medicare Advantage plans. This card comes preloaded with a set amount of money that you can use to pay for healthcare costs. A few health plans may allow you to buy approved groceries and pay for utilities with your flex card.
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Medicare does not issue the flex card. So if you’re enrolled in original Medicare, this card will not be available to you.
Insurance carriers offer the flex card as a way to encourage people to sign up for their Medicare Advantage plans. The availability of the card and the amount of money you get vary widely by Medicare Advantage carrier, the plan you choose, and where you live.
For example, a health plan may offer the Medicare flex card for people who live in specific states. The benefits may even vary by counties in the same state.
How to get a Medicare flex card
To get a Medicare flex card, you must be enrolled in a Medicare Advantage plan that offers this benefit. This means if you have Original Medicare and are not enrolled in a Medicare Advantage plan, you are not eligible for the flex card.
Not all Medicare Advantage plans offer the program. And even if you’re enrolled in a Medicare Advantage plan that offers a flex card, you may not qualify for one. Eligibility is determined by the insurance carrier, not by Medicare.
If you’re interested in getting the flex card, start by searching for Medicare Advantage plans that include this benefit in your state or county. Once you find plans that offer the Medicare flex card, check to see if you meet their eligibility requirements.
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If you want to switch plans to take advantage of the flex card for seniors, you can do so during the Medicare Advantage open enrollment, which takes place every year from January 1 through March 31.
How to use the Medicare flex card
Your Medicare flex card works like a prepaid debit card. But before using it, you may have to:
Activate your card. Some health plans require that you activate the card before use. Others may ask you to set up a pin for added security.
Sign up for an online account. An online registration can help you manage your card and track available funds. But not all health plans offer this feature.
Verify eligible items. You’ll need to check what expenses qualify. This information is available from your health insurance carrier.
If you’re buying approved over-the-counter (OTC) items or paying for a prescription copay at the store, you’ll swipe the card like a debit or credit card. You may also order eligible items online, by mail, or by phone.
The cost of the approved items will be deducted from the balance on your card. If your purchase costs more than the balance on your card, you'll need to pay the remaining amount with another form of payment.
Each plan sets its flex card allowance amount and spending rules. These benefits can range from a few hundred to a few thousand dollars. Several factors determine the amount of money available on the card, such as:
The insurance carrier
The Medicare Advantage plan
Where you live
Whether you have special needs or a chronic illness
Whether you qualify for both Medicare and Medicaid
Some plans upload the full allowance upfront at the beginning of the year. Others opt for monthly and quarterly installments. Unused funds generally expire at the end of the plan year.
What do Medicare flex cards cover?
Medicare flex cards can cover various health and wellness items, depending on your Medicare Advantage plan. Some common categories include:
Prescription hearing aids and eyewear
Over-the-counter items, like medications and medical supplies
Healthy foods and groceries
Utilities, like electricity, water, and gas
Assistive devices, like shower chairs and grab bars
Fitness benefits like gym memberships
The specific items covered under each category can vary between plans, so always check with your insurer about what your flex card can be used for.
Can you buy groceries with a Medicare flex card?
You may be able to buy groceries with a Medicare flex card, depending on your Medicare Advantage plan. For example, Anthem’s Benefits Prepaid Card offers a grocery allowance each month.
Similar to other covered items, there may be restrictions on what you can buy at the grocery store with your flex card. With Anthem’s flex card, you can buy approved healthy foods like fresh or frozen meats, fresh vegetables, dairy products, canned goods, and more.
Keep in mind that you can’t use your Medicare flex card at just any store. Most health plans will have a list of participating retailers where you can spend the funds.
Is the Medicare flex card for seniors legitimate?
Medicare flex cards offered by well-known Medicare Advantage plans are legitimate. Unfortunately, scammers may target seniors with advertisements containing misleading information. Some dishonest commercials may tell you to call a phone number or go to a website where scammers can get your personal information to commit fraud.
Here are some red flags to watch out for:
Claims that flex cards are a government program: Medicare — which is run by the government — does not offer flex cards.
Claims that flex cards are “free money”: While these cards offer extra benefits, your insurance premiums may be higher.
Unsolicited phone calls: Reputable insurance companies generally don’t call, text, or email you unless you contact them first.
If you believe you have been the victim of a Medicare flex card scam, report it to the government by calling 1-800-MEDICARE (1-800-633-4227).
Is the Medicare flex card worth it?
Before enrolling in a Medicare Advantage plan that offers the flex card, consider the plan’s overall benefits. Sometimes the added benefits you get with the flex card may not be worth the tradeoffs. Ask these questions:
Does the insurance company have a good track record?
Are my current healthcare professionals in the network?
Are my medications covered in the plan’s drug formulary?
Will my monthly premiums, deductibles, and copays be more?
How much will the flex card help me save?
What are the restrictions on the flex card?
Look for alternatives, like original Medicare or Medigap (Medicare Supplement), to see which option best fits your needs.
The bottom line
The Medicare flex card for seniors can help you manage your healthcare and other out-of-pocket costs. This program is available through a few Medicare Advantage plans, and the benefits vary widely. Getting a flex card may often mean signing up for a new plan.
While the flex card can make it easier to cover some expenses, enrolling in a Medicare Advantage plan that meets your healthcare coverage needs is important. Talk to a trusted advisor or licensed insurance agent to help you make the best decision.
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References
Anthem Blue Cross Blue Shield. (n.d.). Flex card benefits with Anthem.
Blue Cross and Blue Shield of Louisiana. (n.d.). Flex card.
Medicare.gov. (n.d.). Explore your Medicare coverage options.
