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medicare advantage benefits

The value of Medicare Advantage supplemental benefits

February 6, 2024

As individuals approach retirement age, it can become increasingly difficult to understand healthcare options available. For example, only about half of Americans 65 years of age and older know that Medicare is a federal program. One of the choices available to eligible seniors is Medicare Advantage, a health insurance plan that often includes supplemental benefits. Medicare Advantage has continued to gain popularity among seniors over the past few years, with just over half of all Medicare beneficiaries enrolled in it

Let’s take a look at the variety of Medicare Advantage supplemental benefits offered and how they can take traditional Medicare coverage to the next level.

Medicare Advantage vs. traditional Medicare

Medicare Advantage, sometimes called Medicare Part C, is an alternative to traditional Medicare and provides an “all-in-one” solution offered by private companies approved by Medicare. These plans contract with Medicare to offer both Part A (hospital insurance) and Part B (medical insurance) benefits to create bundled coverage. Medicare Advantage also typically includes Medicare Part D (prescription drug coverage), providing beneficiaries with a convenient and consolidated healthcare option that also offers potential cost savings and additional perks. 

A variety of supplemental benefits 

Supplemental benefits under Medicare Advantage plans encompass a wide range of services and perks not covered by traditional Medicare. Some common supplemental benefits include:

  • Dental: Cleanings, fillings, extractions, dentures, emergency, complicated procedures, and more
  • Vision: Routine eye exams, eyeglasses, contacts, and fittings for frames/contact lenses
  • Hearing: Hearing aids and other associated expenses
  • Fitness: Fitness club memberships, gyms, and sporting goods stores
  • Chiropractic: Medical chiropractic care
  • Utilities: Benefits for utilities
  • Grocery/over-the-counter (OTC) products: OTC medications, products, and health-related foods
  • Rewards: Reward cards for various OTC products, grocery items, and healthcare purchases
  • Non-emergency transportation: General-purpose or non-emergency medical rides

Benefits of supplemental coverage

Medicare Advantage supplemental benefits address the diverse needs of seniors by offering services that are not typically included in traditional Medicare, like dental and vision coverage. Additionally, wellness programs and preventive services provided by these benefits create a more well-rounded senior healthcare experience. The flexibility and customization of these supplemental benefits help seniors access a wider range of resources personalized to their health requirements and lifestyles.

Offer a Medicare Advantage flex card

The WEX Medicare Advantage flex card offers members a convenient and efficient way to access and use their supplemental benefits. Like a debit card, eligible individuals can easily pay for qualified healthcare expenses covered by their Medicare Advantage plan. Whether it’s purchasing over-the-counter medications, wellness items, or other eligible health-related products and services, a Medicare Advantage card simplifies the process by eliminating the need for upfront out-of-pocket payments and reimbursement. 

Learn more about the WEX Medicare Advantage flex card here.

The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. 

WEX receives compensation from some of the merchants identified in its blog posts. By linking to these products, WEX is not endorsing these products.

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