How to Make The Most of your Medicare Advantage Plan OTC Benefits

Every year, Medicare Advantage members leave billions of dollars in unused benefits on the table. Money that could go toward essential health and wellness products they rely on daily.

According to the Consumer Healthcare Products Association, an estimated $5 billion in over-the-counter (OTC) allowances go unclaimed annually, meaning roughly 70% of available benefits are wasted.

Research from Kenvue's A New View of Care report finds most consumers don't completely stop their health and personal care routines because of cost, price affects how consistently they use products. OTC allowances reduce financial strain, making it easier to maintain personal care routines without interruption.

For many older adults on fixed incomes, these missed dollars represent real savings. OTC benefit allowances help Medicare Advantage members purchase everyday healthcare items without spending money out of pocket, but funds don’t roll over into the next year. Anything unused disappears.

“Overlooked benefits can impact both health and finances,” said Kris Cevasco, senior manager at Kenvue, in a recent interview on Senior Care Live with Steve Kuker. “The OTC benefit can mean hundreds of dollars in savings each year on products people depend on daily.”

Kenvue, a consumer health company behind trusted brands like Band-Aid®, Neutrogena®, Listerine®, and Tylenol® has been working to raise awareness by partnering with healthcare companies and retailers to educate consumers.

Smart Ways to Use Your OTC Benefits Before They Expire

1. Manage Pain & Arthritis: TYLENOL® 8-HR Arthritis Pain; TYLENOL® PRECISE™ Pain-Relieving Patches

2. Prep for Cold & Flu: SUDAFED®; TYLENOL® Cold & Flu

3. Support Digestive Health: PEPCID® Complete

4. Invest in Skincare: AVEENO® Eczema Therapy Soothing Cream; AVEENO® Nighttime Itch Relief Balm; Neutrogena® SPF

5. Prioritize Dental Care: LISTERINE® Clinical Solutions™ Gum Health

6. Restock First Aid Essentials: BAND-AID® Brand Pro Heal™ bandages

How to Save Using OTC Benefits

Medicare Advantage providers typically offer members several ways to use their OTC allowances. Understanding these options helps get the most value before benefits expire:

1. Order by Catalog: Shop from your plan’s OTC catalog online, app, phone, or mail.

2. Use an OTC Debit Card: Pay for eligible items in-store.

3. Submit Receipts: If allowed, buy eligible products anywhere and upload receipts for reimbursement.

As the number one consumer healthcare company by revenue, Kenvue is committed to helping Medicare Advantage members maximize their benefits. Learn more at https://www.kenvuebrands.com/us/medadvantage.

* If you're unsure how to use your benefit, contact your Medicare Advantage provider.