The phrase “your health is your wealth” rings true no matter what age you are, but the costs of maintaining your well-being outside of regular doctor visits can add up. Depending on your Medicare insurance coverage, you may be eligible for a flex card to help pay for those extra costs.
What is a Medicare flex card?
A flex card is a debit card pre-loaded with money to help pay for out-of-pocket health related costs and some everyday expenses to boost your well-being.1 It’s a benefit that’s only available through Medicare Advantage (Part C) plans, which is Medicare through private insurance.
Older adults typically get between $250 to $1,500 to spend depending on their plan and how often they receive money.2 Flex card users may get money monthly, every three months, or a year’s worth at once.3
Because the flex card works like a debit card, users may be required to set up a security PIN number and register the card online to monitor how much spending money they have.1
Who is eligible for a flex card?
While flex cards are only available through insurance plans offering Medicare Advantage, not all insurance carriers offer the benefit. Even if your plan does offer a flex card, it may only be available to people living in certain states1 or people with certain chronic health conditions.3 When considering Medicare Advantage, check to see which insurance providers offer the flex card benefit, which might go by another name.3
What does a flex card cover?
Depending on insurance coverage, flex cards can help pay for the following:2
- Assistive devices, such as shower chairs and hearing aids
- Fitness classes
- Groceries
- Toiletries
- Vitamins
- Utilities
- Rideshare services (e.g., for transportation to medical appointments)
Not every business accepts flex card payments. Insurance plans offering flex cards will have a list of approved retailers who will accept your card.4 A flex card may also be designated for specific health care expenses, such as vision care.2
How do I sign up for a flex card?
Make sure the insurance plan you choose for Medicare Advantage coverage offers the flex card and that you qualify. You can search for available plans in your area and you can also talk with your State Health Insurance Assistance Program (SHIP) or call 1-877-839-2675 for guidance. Remember that flex cards are only offered through private insurance, not the federal government. Any advertisement or phone call offering you a similar benefit is likely a scam.1
Your area SHIP, as well as a National Council of Aging-approved Medicare broker, can also help you decide if a Medicare Advantage plan is the best option for your Medicare coverage. As you weigh your choices, NCOA has guides on what to consider when choosing a Medicare plan and information about the enrollment periods for all plans.
Sources
1. GoodRx.com. What Is a Medicare Flex Card for Seniors? April 1, 2024. Found on the Internet at https://www.goodrx.com/insurance/medicare/flex-card
2. Nerdwallet.com. What Is the Medicare Flex Card? Jan. 8, 2024. Found on the Internet at https://www.nerdwallet.com/article/insurance/medicare/medicare-flex-card
3. U.S. News & World Report. What Is a Medicare Flex Card? Feb. 14, 2024. Found on the Internet at https://health.usnews.com/medicare/articles/what-is-a-medicare-flex-card
4. Fortune.com. What is a Medicare Flex card? Get the facts about the flexible benefits card—including where to get one. Sept. 27, 2023. Found on the Internet at https://fortune.com/well/article/what-is-medicare-flex-card/
