What Is a 'Lady Bird Deed'?
I heard about something called a “Lady Bird deed” that could be useful if I need to apply for Medicaid. What exac...
Read moreSome Medicare Advantage beneficiaries receive Medicare flex cards, pre-paid debit cards for qualifying expenses, as part of their benefits. The U.S. government does not issue Medicare flex cards. This benefit is only available on select Medicare Advantage plans, a private alternative to Medicare.
Traditional Medicare does not offer flex cards. Certain Medicare Advantage plans provide beneficiaries with flex cards that can pay for qualifying goods and services.
Local Elder Law Attorneys in Your City
Plans offering a flex card typically supply a quarterly or annual allowance. On average, Medicare flex cards contain $500 of debit, and it is rare to receive more, according to Medicare FAQ.
While plans differ in what beneficiaries may use the debit to cover, coverable expenses may include the following:
The Medicare flex card will not cover all expenses. Beneficiaries cannot use these cards to pay for processed food, restaurant meals, electricity, or rent. The plan administrator must approve the items for which the beneficiary can use the card.
You are eligible for a Medicare flex card if you qualify for a Medicare Advantage Plan with a flex card benefit. To enroll in Medicare Advantage, you must:
be eligible for traditional Medicare Part A and Part B.
In addition to meeting the general eligibility requirements for traditional Medicare, whether you can obtain a Medicare Advantage plan with a flex card could depend on your location. Medicare Advantage plans have specific service areas where they operate.
Privately run Medicare plans are common. The Kaiser Family Foundation reports that more than 28 million people were enrolled in a Medicare Advantage plan in 2022, constituting almost half of the eligible Medicare population at 48 percent. These plans accounted for 55 percent of all federal Medicare spending. In 2022, the average beneficiary could choose from 39 Medicare Advantage plans, though not all of these plans offer a debit card benefit.
While Medicare Advantage may offer additional benefits compared to traditional Medicare, it can also be more expensive. Depending on the situation, the plan’s cost might not be worth the flex card benefit.
If you are considering enrolling in a Medicare Advantage plan, be wary of predatory marketing tactics.
According to AARP, some advertisements present misleading claims about Medicare Advantage flex cards. These advertisements say that Medicare beneficiaries could receive a flex card with up to thousands of dollars in funds from the U.S. government to spend on anything they wish. As they prey on consumers, these ads direct viewers to a website requesting personal information, such as Social Security, bank account, and credit card numbers.
A similar scam claims to provide individuals with new Medicare cards but takes personal information for wrongful use. If you need a replacement card, you can call Medicare (800-633-4227) or download the card from your Medicare account. No representative from Medicare will call you to send you a new card.
To stay safe from scammers, keep the following in mind.
If you are eligible for Medicare, meet with a qualified elder law attorney to discuss whether a Medicare Advantage plan with a flex card is right for you.
An attorney can help you make decisions and protect yourself from misleading claims; find an elder law attorney near you today.
I heard about something called a “Lady Bird deed” that could be useful if I need to apply for Medicaid. What exac...
Read moreCan you tell me what a "Medicaid-qualifying annuity" is?
Read moreIf you become incapacitated, who will make your medical decisions? Health care proxies and medical power of attorneys allow?y...
Read moreSpecial needs trusts allow a disabled beneficiary to receive inheritances, gifts, lawsuit settlements, or other funds and yet...
Read moreIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MOREIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MORELearn who qualifies for Medicare, what the program covers, all about Medicare Advantage, and how to supplement Medicare’s coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MORE