Maximizing Medicare Benefits: The Importance of OTC Awareness in Palm Beach County

Each year, millions of dollars in unutilized Medicare benefits affect Palm Beach County, Florida. Recent estimates reveal that in 2025, approximately $70 million in Medicare over-the-counter (OTC) benefits went unspent in the area, with about $15 million expiring at the close of December. This underscores the critical need for awareness and utilization of Medicare Advantage plans to maximize benefit usage.

Projections for 2026 suggest that 125,000 residents in Palm Beach County will have access to OTC benefits through Medicare Advantage plans, averaging an annual benefit amount of $1,087. These benefits cover essential health items such as cold and flu medications, first aid supplies, and approved medical products. Although the anticipated total for OTC benefits could reach $135 million this year, historical patterns indicate a significant portion may remain unclaimed. Cobi Blumenfeld-Gantz, CEO of Chapter Medicine, attributes this to individuals' unfamiliarity with their plan details or benefit reset schedules.

To address this, Chapter Medicine developed the MyOTC app, designed to assist beneficiaries in tracking and managing their OTC benefits. The app provides reminders and simplifies the process of purchasing eligible items before expiration, with a user-friendly interface tailored for older adults. It offers capabilities to scan Medicare cards or enter details to access current benefits, ensuring that users utilize their prepaid resources effectively. Blumenfeld-Gantz emphasizes the financial value at risk and aims to enhance consumer access through simplified navigation of these benefits.