What’s the truth about the flex card for seniors?

The Flexi Card for seniors is a pre-paid card that seniors can use to purchase healthcare-related qualifying items. It offers a portion of your paid-for benefits as a prepaid card. However, though the Flex card is legitimate, it is frequently used as a fraudulent advertising ‘perk’ to scam seniors. It is important to understand what the Flex card is and how to tell if the offer is legitimate.

The ‘Senior Flex Card’, or ‘Social Security Flex Card’ is a product offered by some Medicare Advantage Plans. The Flex Card is not a standard feature of all Medicare Advantage plans and is technically not part of the government-run offering. If you sign up for the Flex Card, part of your benefits are preloaded to the card and can be swiped to cover qualifying medical expenses. Typically, you get about $500 on the Flex card, not the often-promised $2,880.

How Does a Medicare Flex Card Work?

The Flex card is a prepaid debit card offered to qualifying Medicare beneficiaries. It can be used for medical supplies and equipment as well as other healthcare-related qualifying items. Under some circumstances, this may include certain healthy foods. Spending limits vary, depending on the private Medicare Advantage program that offers it. While claims of $2,880 being on offer are common, most only run in the region of $500.

The Flex Cards are typically linked to FSAs or flexible spending accounts. FSAs are a form of tax-advantaged spending account. It is similar to the way some private health insurance companies offer flex debit cards. 

Medicare Flex Card Eligibility

To be eligible for this card, you must be part of a private Medicare Advantage plan that offers the card and a linked FSA. You can apply for a Flex Card within 60 days of joining the program.

How to Apply for a Flex Card

To qualify for the Flex card, you have to be on a qualifying private Medicare Advantage plan, in a state service area that offers them. You will apply as part of your annual (or initial) enrollment in the plan.

The Flex card is only available through a qualifying private insurer offering the benefits, and not directly as part of the government insurance program. You should receive it in the mail after your enrollment.

Medicare Flex Card Scams

While the legitimate Flex Card is designed to help seniors offset their rising medical costs, be aware that scammers are taking advantage of the lack of knowledge about the Flex Card program. If you are a new user, you should understand that it is an extra benefit for some Medicare Advantage plans, and vet any offer carefully before putting yourself at risk.

Scams pop up around the Medicare enrollment period (typically October to December) every year, hoping to take advantage of your concerns about medical costs. Most of these scams try to enroll you in Medicare plans that subsequently don’t have the advertised benefit, or which you don’t qualify for.

Even worse, you may see ads claiming these cards are just being given away as ‘free money’ to seniors. These ads direct you to fake sites or lead to fraudulent phone calls that seek to steal details like your SSN, credit card, and bank info, or file fake claims in your name.

How to Know If Your Flex Card Is Legit

If you are looking to sign up for a flex card, it is recommended to directly contact the insurer to discuss what is offered. Do not trust third-party offers or advertisers who reach out to you. You should also make sure the Medicare Advantage plan attached meets your medical needs and that you are not losing out on other key healthcare aspects for a bit of (not) free cash.

How to Protect Yourself from Medicare Scams

You can protect yourself from these scams by using due diligence and a proper understanding of the program. First, understand the following:

Flex cards are not offered by the government Medicare program. It’s a scam if they claim it’s from the CMS or Medicare itself

You can only use the flex card to pay for qualified expenses, not just any expense.

You must qualify for the card with a relevant private Medicare Advantage plan. Most private Medicare Advantage plans will only call you to offer a Flexi card if you have specifically requested a call.

Don't Share Your Personal Information Online

If you receive an offer to enroll for a Flex Card, and it is not from a company you have requested for a callback, you should decline the offer immediately. Most scammers lure their targets with enticing offers of Flexi cards with free money, but they use the bait to illegally obtain personal information. If you have been asked to provide your personal information on the phone or an online site, you should decline the invitation and report the scam.

Avoid Taking Unsafe Advice

Only a qualified representative of your Medicare Advantage plan can discuss this with you about a Flex Card- there will be no third-party service or additional agency involved. Don’t respond to ‘cold canvassing’ or hefty advertising promises. 

Some deceitful private insurance companies may try to lure you to enroll in their plan. Do your research and choose a plan based on coverage, network, cost, and benefits. Never make a decision based on promises of ‘free money’.

Find a Reputable Medicare Consultant

It is smart for seniors to look for local aging support services, like the Agency on Aging in your area that can link you to recognized and reputable consultants. Again, never trust someone who reaches out to you first. Reputable companies require you to initiate contact.

The Flex card is a useful tool for managing your medical expenses day-to-day if you are part of a legitimate program. But always do your due diligence, and make sure you understand the product and how it is offered before you give away any personal information or choose a Medicare plan.