If you have a Medicare Advantage Plan with an over-the-counter (OTC) benefit, you may find yourself wondering how to best spend that money before the end of your plan cycle. After all, it can be confusing to understand what specific items you’re allowed to buy and how to purchase them with your benefit.
Beneficiaries can save an average of $400 using their annual allowances* to offset the costs of important everyday healthcare items. But 70% of OTC benefits* are never used, leaving billions of dollars on the table. There’s no need for that money to go unused. An OTC benefit can help you maximize savings on everyday health-related products you already buy and use regularly. The catch is that OTC allowances are a use-it-or-lose-it benefit under many plans, meaning they may not roll over into a new plan cycle – so it’s important not to miss out.
Not sure how to spend your benefits? Whether you now have an OTC benefit (contact your Medicare Advantage Plan provider to find out) or you’re looking ahead to the next Medicare open enrollment, we have three creative ways to make the most out of your OTC allowances, so you can put every last penny to work.
- Be prepared with essentials. Chances are, you may need cold, cough, flu, and allergy product options in the months ahead. And there’s nothing worse than having to go out to the pharmacy when you’re already under the weather. Your OTC benefit includes a wide variety of medications to prepare yourself for the winter season, such as SUDAFED® and TYLENOL® Cold & Flu. Instead of being caught off-guard with a cough or set back by a sniffle, do your future-self a favor by being prepared with common medicines before you need them.
And don’t forget other health-related must-haves — keep heartburn at bay after a hefty meal with a bottle of PEPCID® Complete, and maintain a healthy smile with OTC-eligible dental care items like LISTERINE®.
- Upgrade your skincare routine. Surprise! Your OTC allowances can be used toward certain products that help soothe and heal your skin. Moisturizing creams for eczema, like Aveeno® Eczema Therapy, itch-relief balms, and acne treatments often qualify for your OTC benefit. And don’t forget to be prepared with OTC-eligible sunscreen to help protect your skin from UV rays – important all year round, not just during the summer! Get in the habit of incorporating SPF items like Neutrogena’s® line of suncare products, such as Sport Active Defense SPF 30, Ultra Sheer Lotion SPF 70 and Beach Defense Spray SPF 70, into your skincare routine.
- Help manage your pain and arthritis symptoms. The pain of living with arthritis is real. With your OTC benefit, you can save money on nonprescription medications that can help with your symptoms. With pain-relief products readily accessible, like TYLENOL® 8-Hour Arthritis Pain Relief, you don’t have to let minor arthritis pain interfere with your lifestyle.
Before buying any of these products, be sure to read your plan for product eligibility and allowance usage as plans do vary and contact your provider for the different methods with which you can spend your allowance. These typically include catalog, online, phone or mail order through your provider, submitting receipts for reimbursement to your provider, and using an OTC debit card at select retailers.
There are dozens of creative ways to make the most of your OTC benefits. Whether you’re looking to refresh the medicine cabinet, improve your skincare routine, or be prepared with health remedies, you’ll find many of Kenvue’s iconic brands in the aisles you shop most.
Kenvue is committed to helping Medicare Advantage members make the most of their OTC benefits, putting the power of everyday care into your hands through its science-backed, trusted products. How will you use your benefits to practice self-care?
Click here to learn more about Kenvue’s OTC-eligible products.
*Read the full CHPA report on Medicare.
