The OTC Card: Your Guide to Monthly Health Benefits Reload

The OTC Card: An OTC card, which stands for Over-the-Counter Card, is a benefit provided by certain Medicare Advantage plans that enables beneficiaries to purchase specific over-the-counter items at participating retailers.

It is essential to note that not all Medicare Advantage plans offer OTC cards, and their availability may be limited in certain U.S. regions.

The OTC Card: How does the card function?

Beneficiaries who qualify will receive an OTC card that allows them to access up to $70 every three months for a variety of over-the-counter (OTC) products.

Before using the card for the first time, it is necessary to call the activation number listed on the card. Simply follow the instructions on the label located on the front of your card to complete the transaction.

Once your card is activated, you can easily use it to make qualifying purchases at stores and delis that accept it. Typically, stores clearly indicate whether they are participating or not.

In-store transactions do not require a PIN or signature, and the process is similar to that of a prepaid card.

At the register, you can simply swipe the card to finalise the transaction.

It is essential to remember that this OTC card is intended solely for OTC items. To pay for prescriptions, a distinct card should be used.

Does OTC balance carry forward?

Any unused balances from the quarterly allowances will be carried forward to the subsequent quarters, but must be used by the end of the year, or by December 31, 2023.

If your expenses exceed the quarterly allowance, you may use your personal credit or debit card to cover the difference.

Regarding the monthly reloading of your health benefits card, the OTC card is loaded with the quarterly OTC amount at the beginning of each calendar year.