Now that March is over, so is Medicare Advantage open enrollment. That means that, barring special circumstances – retirement, relocation, or some other major life event – the Medicare plan you have now is probably going to carry you through the rest of 2025. 

For the majority of Medicare beneficiaries, that coverage is in the form of a Medicare Advantage plan. The purpose of this article isn’t to argue the relative merits of MA plans versus Medicare Supplement plans – as noted, that ship has sailed, for this year, at least. Instead, we’re relying on this first-person report from US News, written by reporter Tim Smart, to point out something that should be obvious: you are missing out if you don’t take advantage of the perks that come with your Medicare Advantage coverage. 

And therein lies the irony. A large majority of enrollees in MA plans claim that those extras – vision benefits, dental benefits, gym memberships and so on – helped sell them on Medicare Advantage. These benefits are worth hundreds of dollars per year, yet fewer than half of all beneficiaries use the perks they’re entitled to. Let’s look at Smart’s article to see why. 

Medicare Advantage Plans Come with Extra Benefits 

Smart begins by explaining that he’s approaching this topic with first-person experience. “Like many, I make use of a Medicare Advantage plan that provides additional benefits beyond the basic Medicare coverage,” he writes. “These plans typically offer dental and vision coverage, over-the-counter products, and other benefits.” 

For Smart, the perk he values the most is the gym benefit, something he utilizes a few times a week at a local fitness center that’s part of his plan. “I am hardly a gym rat, but 10 to 15 minutes on the exercise bike followed by a circuit of weights and strength machines helps keep my gears in shape,” he explains. “What’s particularly great is that my club is part of a chain, so I can use facilities elsewhere in my town or in another city I’m visiting.” 

This benefit is worth well over $60 per month. Even better? Smart’s plan allows him to self-report his activities. “Once I reach 10 days in a month, I get a credit, reducing my cost for any [over-the-counter] products I purchase that are covered under the plan. So, I get to be healthier and wealthier at the same time,” he writes.  

More Than Half of Medicare Beneficiaries are in MA Plans 

Medicare Advantage is a popular choice. In 2024, around 32.8 million people enrolled in it, which is slightly more than half of those who are Medicare-eligible due to age (as opposed to those eligible because of disability). Those added benefits are supposedly a draw over competitive Medicare Supplement plans. 

“But while over 80 percent of enrollees say the added benefits matter to them, far fewer actually use them,” Smart writes. “I would not say that’s a surprise, but whether it is because people don’t see them as useful or they just don’t know what their plans offer, I can’t say.” 

Fewer Than Half of MA Enrollees Use Their Bennies 

Smart explains that the data used for his article comes from a survey from The Commonwealth Fund, “an organization that researches policies and practices that impact the health care system.” He observed a few interesting patterns in benefits usage that were uncovered by the survey.  

Dental benefits are only used by 42 percent of enrollees, with vision care just below it at 41 percent. Smart himself has used his vision benefits for an annual eye exam and a pair of prescription sunglasses. Dental plans typically cover two cleanings annually with discounts on more expensive procedures. 

Just under half—46 percent—of enrollees reported using the over-the-counter medication benefit. The use appears most common among those whose incomes fall below $50,000. Smart writes, “I can vouch for the value of the OTC option as I have used it to buy topical pain cream for a creaky knee after years of running and playing indoor soccer. (These sports also kept my cholesterol under control, so I can’t complain: It all balances out in the end.)” 

One of the more surprising patterns? The huge drop off with hearing benefits, with only 7 percent saying they take advantage of them.  This may reflect the reluctance of many to actually have their hearing checked. 

Examine Your Benefits and Start Saving Money 

To conclude, Smart gently challenges, “How about you?” 

Do you have a Medicare Advantage plan, and are you aware of all the benefits available to you within it, especially as some plans update their offerings annually?  

He advises checking the possible “wrinkles” and fine print, like how each benefit is administered and how often it’s allowed to be used in a given year.  

“One final note,” he writes. “Some plans have online apps that you can download to your phone that make things easy. Who knows? Maybe you’ll start using the gym like me.” 

New Law Requires Midyear Notification of Benefit Usage 

Before we leave the topic, a current development is worth noting. One change to federal law that US News reporter Smart failed to mention is designed to increase utilization of Medicare Advantage benefits. According to a prominent Medicare advocacy group, the Medicare Rights Center, the new rule requires MA plans to notify enrollees midyear of supplemental benefits they have not accessed but for which they qualify.  

“We know that many people choose MA plans because of these benefits,” says the group, “but it remains unclear if people are using them, or getting the value they expected. With this new requirement, plans must send a personalized notice to each enrollee describing any benefits they have not used, including costs and how to access it. The timing of the notices—halfway through the coverage year—is intended to give enrollees time to act on this information.” 

In a 2024 policy roll-out, CMS refers to the newly-required notice as a “Mid-Year Enrollee Notification of Unused Supplemental Benefits.” This personalized notification is to go out to each enrollee during July. It will list the supplemental benefits which the beneficiary has not accessed by mid-year, and will provide help (including a toll-free number) to help people use their available perks. 

We’ll be watching this story as it unfolds. Meanwhile, you MA plan holders – don’t leave money on the table. Use those bennies. 

Rajiv Nagaich – Your Retirement Planning Coach and Guide 

The long-awaited book by Rajiv Nagaich, called Your Retirement: Dream or Disaster, has been released and is now available to the public. Retirement: Dream or Disaster joins Rajiv’s ground-breaking DVD series and workbook, Master Your Future, as a powerful planning tool in your retirement toolbox. As a friend of AgingOptions, we know you’ll want to get your copy and spread the word.  

You’ve heard Rajiv say it repeatedly: 70 percent of retirement plans will fail. If you know someone whose retirement turned into a nightmare when they were forced into a nursing home, went broke paying for care, or became a burden to their families – and you want to make sure it doesn’t happen to you – then this book is must-read. 

Through stories, examples, and personal insights, Rajiv takes us along on his journey of expanding awareness about a problem that few are willing to talk about, yet it’s one that results in millions of Americans sleepwalking their way into their worst nightmares about aging. Rajiv lays bare the shortcomings of traditional retirement planning advice, exposes the biases many professionals have about what is best for older adults, and much more. 

Rajiv then offers a solution: LifePlanning, his groundbreaking approach to retirement planning. Rajiv explains the essential planning steps and, most importantly, how to develop the framework for these elements to work in concert toward your most deeply held retirement goals.  

Your retirement can be the exciting and fulfilling life you’ve always wanted it to be. Start by reading and sharing Rajiv’s important message. And remember, Age On, everyone! 

(originally reported at https://money.usnews.com)