government flex card for seniors
The cards are not provided by Medicare. Be especially careful with people who approach you without you asking or who push particular plans. If you suspect that youve been victimized, the first step is to reduce the amount of damage the scammer can do to your identity or credit history. I was able to identify many flex cards from legitimate insurers like Humana but I could not find any that offered as much money as the advertisements claimed. The Medicare flex card is a prepaid debit card that helps eligible seniors pay for out-of-pocket healthcare costs and other approved items. Some providers add in clauses that specify certain thresholds for eligibility, such as plan type or medical history, meaning you could sign up for a plan only to discover you wont be getting a flex card. Educational assistance. Extra benefits are a good thing, but dont sacrifice important medical benefits to get a Flex Card allowance. Co-payments and deductibles. Consumers mislead by Medicare Flex card ads. Medicaid * Average time of receiving a Medicare plan recommendation is less than 15 minutes from start of conversation, 2019-2021. There might be other supplemental benefits included as well in specific Plans such as a benefit for groceries, utilities, and over the counter medications. Details such as your Doctor visit and facility co-pays, prescription drug costs, and other medical costs. This skates on the edge of false advertising. Get a Life Insurance quote today. While the claim may be objectively true, consider how these funds are dispersed. Medicare will not call about the new card and they wont ask for your older adults Social Security number. You may find out that the flex card for seniors is just a distraction from damaging fine print that would put you in a far worse financial situation overall. - Jeff R. Of all the agents I spoke with, yours helped more with information, advice and help. As you may know from our previous video on Medicare benefits, Medicare has many parts and is very complicated. Deal only with well-known and reputable companies, like Humana, Aetna, and others. Scammers will:1. Dental Insurance Its not that they condone it, but it takes them a while to crack down on the offending health insurance companies. Nicole is the owner and lead researcher for Low Income Relief. So, here are 3 ways you can protect yourself from most Medicare frauds. Money on the card can be used to pay for specific health services, such as dental or vision care, prescriptions, or even healthy groceries. Diagnostic devices (blood sugar test kits, etc. For example, the flex card can be used for the following expenses: Medicare Flex Card Coverages. The scam consists of a recorded message advising callers that if they are sixty years of age or older they are eligible for the national senior assistance program. The new card will not affect Medicare benefits. You May Like: Do Post Offices Have Notaries. Beneficiaries often save more money in total health spending with a Medicare Supplement plan than with a Medicare Advantage plan. Spending Limit for Medicare Flex Cards. Government-provided Medicare plans do not come with a flex card. You can make contributions to your FSA through payroll deductions for as long as you are employed. The flex card for seniors offer is typically tied to a Medicare Advantage plan. Private Medicare Advantage plans distribute the cards in these ads not Original Medicare. As a result, any money loaded onto a flex card is offset by payments somewhere else. A flex card is not included with government-provided Medicare plans. There might be other supplemental benefits included as well in specific Plans such as a benefit for groceries, utilities, and over the counter medications. Flex cards are not a necessary benefit of a Medicare Supplement plan because Medigap beneficiaries typically save on out-of-pocket costs compared to Medicare Advantage plans. If you suspect you are the victim of a scam, dont let the scammer know you are suspicious since this may prompt them to do something rash with your information, such as running up credit card debt or trying to sell your personal information online. Unfortunately, there are many scams out there today that advertise free flex cards. Social Security Owned by: Elite Insurance Partners LLC d/b/a MedicareFAQ. When your physician or nurse practitioner has referred you for physiotherapy after experiencing: You May Like: Post Office Change Of Address Form. Always be aware of whats going on around you, and dont let anyone approach you without your permission. That just doesnt make sense for most people. Once you sign up for a plan, your provider will send you your flex card along with information about how you can spend the money. If your provider does offer these cards, ask for details about the total amount available, what services are covered, and if any unused balances roll over to the next year. The flex card benefit is not a common feature of Medicare Advantage plans, but you can find it in a handful of plans nationwide. newly Eligible employees can enroll in FSAFEDS during the annual Federal Benefits Open Season in November and December. Plus, they will not call to ask about bank information. You should be eligible for Original Medicare before signing up for a Medicare Advantage plan. While advertising for these cards may make it seem like youre being given free money to spend on healthcare expenses, this is not exactly true. Medigap plans supplement Original Medicare. Assurance IQ is a licensed representative of Medicare Advantage HMO, PPO and PPFS organizations and prescription drug plans with a Medicare contract. They are non-taxed accounts that are used to pay for certain medical expenses not covered by employer plans. Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Assurance IQ, LLC is not affiliated with Assurance Agency, Ltd., nor any government agency. debt So heres the deal, every year right around the annual open enrollment period which runs from Oct 15th to Dec 7th, theres always a certain benefit thats heavily advertised by medicare sales agencies. certain items that can be purchased with an EBT card. But you must retain your calm and stay away from the trap. The amount that comes preloaded on the card and the services and items you are allowed to spend it on is determined by your Medicare Advantage provider. Senior Care. That's a lot less than . For example, you might see an offer for a flex card with a $1,000 balance but if the insurance plan tied to the card comes with a $25 per month increase over your current Medicare Advantage premium and doubles your deductible from $500 to $1,000, you could end up paying more each year even with your flex card. 2023 we got one card for both food and medical. Posted on Published: November 22, 2021- Last updated: November 17, 2022. To protect your older adult from Medicare card scams, educate them about 3 common techniques that con artists may use. The card also has no role in government-funded programs. Depending on the advertisement, some claimed these cards could be worth $2,880 or more! Her work has been featured in various print and online publications, including USA Today, The Daily Herald, The Chronicle and more. Call the USDA National Hunger Hotline at 1-866-3-HUNGRY (1-866-348-6479) or 1-877-8-HAMBRE (1-877-842-6273). Everything you need to know about flex cards for seniors: what they are, who needs them, and how Medicare can help provide coverage. Since insurance operates on the risk-reduction model, this information is relevant to help your provider create an accurate insurance quote. Tools such as state insurance databases can help you look up agent or company credentials. So, it's not free; you're unlikely to recoup $2,800.00 or anything close to it. OPM's Human Resources Solutions organization can help your agency answer this critically important question. However, most of the time these cards do not have that high of an amount (in 2023 the average was $500) and the funds . A Medicare flex card for seniors is similar to a debit card or credit card that can be used to pay for qualified medical expenses. First, never give your personal information to any company that you do not know, especially online. Compare Plans and Get Quotes Medical equipment. Healthcare cost management . However, this is entirely not true. Flex cards are frequently offered in conjunction with health insurance coverage. Money-Saving Benefits for Seniors. Thanks EIP! Flex cards for seniors work like pre-loaded debit cards. Boca Raton, Florida. 855-487-0142. This card is often known by a few different names, including: Medicare food card; Typically linked to a flexible spending account, these cards are a benefit linked to qualifying health plans throughout the nation. Thats far less than the $2,880 that I originally saw advertised. . Fraud may also be carried out by companies who offer services that they never deliver or who obtain customers personal data and then use it to commit identity theft. SSI Redetermination: What It Is and How It Can Affect Your Benefits . When her husband was medically discharged from the US Army, their family experienced tremendous financial hardship. To apply for flex card benefits, contact your Medicare Advantage provider. Fortunately, Medicare Advantage plans do not require beneficiaries to answer underwriting health questions to enroll, so you will not face denial due to a pre-existing condition. In fact, we could not find any plans that offer Flex Cards with a benefit anywhere near that amount of money. Flex card offers that claim to give you free money are also a red flag because, put simply, they arent giving you free money. Youre not alone! Consequently, there are several legitimate insurance companies that provide these advantages. Some may offer plans that include flex cards to customers who have been with the company for a certain length of time or may make these cards part of a tiered pricing system that requires customers to purchase plans with higher deductibles or copayments. For example, if the company says you get a $2,000 flex card, ask how much of the money you get upfront. The money will be debited immediately from your balance when you use your Flex Card to make a purchase. He is what is known as a captive agent because he only works with one insurer in this case, its United Healthcare. Flex Cards are for use to cover qualifying medical expenses only. A Flex card is provided by an insurance company on behalf of a Flex card licensee. However, they all require beneficiaries to pick up their Medicare Advantage plans. The Flex card is not going to be free but you may need to pay an additional premium to the Medicare advantage plan offered by the company. This post may contain affiliate links. Two types - a medical care or health care FSA and dependent care FSA - are typically offered through an employer. To help reduce the risk of flex card-based fraud, its worth watching out for common red flags. If you have regular, recurring medical expenses, this quarterly flex card model may work for you, but if your health needs are more variable, upfront funds may be a better choice. The money on these cards is offered in addition to existing insurance coverage and allows cardholders to use them as they see fit. So, many legitimate insurance companies offer this benefit. The dependent qualifications and use of the funds depend on which FSA you have (caregivers often have . * Your information is 100% protected. students Although they arent technically scammers, some of them dont mind playing dirty and being deceptive in their advertising. That includes the Flex Card. 2. First, take the time to verify that the company or agent youre dealing with is legitimate. Suppose you do not enroll in Original Medicare during your Initial Enrollment Period and do not have creditable coverage in place. Only private insurance carriers offer Medicare flex cards, not the federal government. Save my name, email, and website in this browser for the next time I comment. medical assistance This is especially true for insurance contracts, which may contain provisions or stipulations that can affect both your coverage and how much you pay. Start with some basic research by searching for the company or agents name online and seeing what comes up. Select which Medicare plans you would like to compare in your area. Invitations for applications for insurance are made through Assurance IQ, LLC, a licensed insurance agency, only where licensed and appointed. For a total of $1,600 per year, the most extensive valid flex plan identified featured a $1,000 flex card and a $50 monthly debit card for other out-of-pocket expenses. Eligibility for the Seniors Flex Cards.