Today most plans in the Medicare Advantage space offer some form of an Over-the-Counter (OTC) benefit. This allows individuals to receive select items such as cold medicine, vitamins, and more at no extra cost. Plans typically offer a fixed budget of dollars for members to spend that renews on a monthly, quarterly, or annual basis. Offering a competitive OTC benefit for your select market can be fundamental to achieving plan growth and can even help manage medical costs.
What are organizations offering for Over-the-Counter benefits?