Let’s say you are one of the millions of older retired people who try to do some exercise a few days a week. And you do this every week for a year or more.
Imagine seeing the same person on the trail while you walk, hike, run, bike, swim, or do yoga…. And you see them every day you exercise.
Now imagine that person who sees you doing the work, walks up to you after that year, hands you $160+ cash, and says, “This is for working hard to stay healthy.”
That would be pretty awesome, wouldn’t it? Well, it happens to me every year! Seriously, Every Year with my United Health Care Medicare Advantage Program.
“In 2014, the Centers for Medicare and Medicaid (CMS) permitted Medicare Advantage plans to offer limited rewards and incentives to beneficiaries. The guidelines were slightly expanded in 2016.
According to CMS, the goal of rewards and incentives in Medicare Advantage “is to encourage enrollees to be actively engaged in their health care and, ultimately, improve and sustain their overall health and well-being.” In 2016, CMS expanded the ability to offer rewards and incentives, but more improvements are needed. ( Better Medicare Alliance Fact sheet July 2019).”
Below is a screenshot of my actual Medicare Advantage Portal. I had a 132.59 rewards balance I could spend, which I earned from the goals. Here, you can see the Get Moving monthly moving challenge. The ten green circles mean I covered the required minimum walking distance for that month and received $10, which gets added to the reward balance.
You can see I have up to $25 more available by signing up for text messaging, completing my annual wellness visit(three months away), and getting a flu shot. So, I will grab $15 of that free cash.
My Medicare Advantage Plan has a REWARDS program that pays me:
$10 to get some form of exercise 10 days a month($120/yr )
$10 to be “Social” by participating in a social activity
$5 to sign up for text messaging
$15 for an annual physical / wellness visit
$5 for a flu shot
$5 form making a doctor appt.
Many Medicare Advantage Programs also offer you $40 every three months to spend on over-the-counter medications, health aids like eye drops, my all-time favorite Preparation H, and hand lotion,… per my UHC plan:
Get more help with your everyday needs. Your plan comes with a credit that will be loaded to your UnitedHealthcare UCard® every quarter for covered over-the-counter (OTC) products. Shop in-store or online for pain relievers, cold remedies, toothpaste, vitamins and more.
Word of warning: use it or lose it. This money does NOT roll Over.
CVS, Walgreens, Kroger, Walmart, and other online and retail stores allow you to use this card. These allowable sources can change over time, so keep track of them.
In the past years, this money from the UHC plan has bought me $165 Rucking/walking hiking shoes, which I go through four pairs a year. I have also paid for a $370 Garmin Edge 530 Bike computer from this fund.
Tracking physical activity to qualify for these perks can be reported manually via your Medicare Advantage Plan account page or automatically tracked via devices like my Garmin Fenix 6XPro watch, a Fitbit, or many other brands of fitness trackers that connect directly to your Advantage Plans Rewards Page. You do your stuff and collect those Rewards dollars.
The Garmin Fenix 6XPro, $750 on release, has been replaced by the Fenix 7 Series. The Fenix series is a fantastic sports and outdoor device with Full US Topo maps and built-in GPS. It tracks health and sleep metrics (HRV, Sleep, Body Battery, Exercise Activities, and more).
The Garmin 6XPro on my wrist is about five years old, so there are newer models in the lineup. https://amzn.to/4fp7WWl
The Fitbit Inspire 3, released September 2022, is around $99(July 24) and is a great “starter” health and fitness tracker. The Inspire 3 lacks heart rate on exercise equipment(does not communicate with equipment), no heart rate training zones, floors climbed, and fall detection(yes, they do have that). https://amzn.to/4dcnpHA
You can read my article about Fitness trackers in more detail here https://downhillslide.life/2024/08/09/fitness-trackers-can-help-improve-your-life-and-earn-you-cold-hard-cash/
The money you earn from this Rewards Program can actually buy you a fitness tracker with most plans.
The main point of this article is that IF you have a Medicare Advantage Plan and would like some extra spending money, check out your plan online today.
Not all Medicare plans offer this perk, but you should investigate as the Open Enrollment period starts soon. While looking for ways to spend money, you may find a Medicare plan that offers a more attractive plan/benefits package.
For me, it became a game not only to get as healthy as possible as soon as possible but to earn as much money in rewards as possible.
It is not a lot of money, but it provides additional incentives to motivate you.
Check out your plan and let me know by posting a comment if you score any free cash.