For many Medicare participants, a Flex Card can be very helpful.
Many people have heard of the Flex Card related to Medicare coverage. We're glad to offer clarification and help you assess if a Flex Card would be a good addition to your overall healthcare coverage.
What is a Flex Card?
Let's look first at the real purpose of Flex Cards. Flex Cards are meant to purchase select medical equipment and related healthcare items. They function much like a debit card, and thus, are linked to specific funds. Their spending limits vary widely depending on the private insurance plan from which they are issued.
You may have noted our use above of the phrase private insurance plan. Flex Cards are are indeed issued by private insurance companies, and are not issued by Medicare or any government agency. They are part of specific insurance plans, typically Medicare Advantage Plans.
Let's also look at what they are not. As we stated above, Flex Cards are not issued by the government, and are not part of Medicare per se. They are also not discretionary funds; any issued Flex Cards must be used only for a specifically defined list of equipment and related items, drawn against a pre-defined spending limit/benefit.
Flex Cards may offer convenience for some people when the need and benefits of the card are clear.
