Over-the-counter (OTC) benefits are benefits offered to members of a Medicare Advantage Health Plan as an additional membership perk. Supplemental Over The Counter Benefit Programs give members an allowance to use throughout the year on items that are aimed to keep them healthy. These items can include dental supplies, pain relief, allergy and flu relief and even anti embolism stockings.
By offering these items, health plans are both enticing more members to join their plan and keeping existing members healthy so that they will not need to seek health care as often. Preventative medicine has been proven to decrease health care costs in the long run, so offering an OTC Benefit Program is really investing in the long term health of health plan members and saving money over the time that the person is a part of the plan.
There are many different ways to offer the Over The Counter Catalog Program to members, and OTC Benefit Solutions can help health care plans to figure out which benefit best fits their members. The benefits can range from $10 to $100+ and can be on a quarterly or monthly basis. The best type of benefit depends on the plan size and the amount of the benefit.
Between enticing more members to join and keeping existing members happy and healthy, adding an OTC Benefit Program offers a lot of upside in member experience and service. Over The Counter Benefit Programs are an easy way to offer a benefit to differentiate a plan from competitors and to grow the membership of a health plan.