Assistance is available for some people with limited income and assets who may be eligible for a program called “Extra Help.” It’s a Medicare health plan that assists in paying costs related to a Medicare prescription drug plan. This can include monthly premiums, annual deductibles and prescription co-payments. Extra Help is estimated to be worth about $4,900 per year. Many people qualify and don’t even know it.
You may qualify for this Low-Income Subsidy program available under Medicare Part D if:
• Your annual income and assets are below the eligibility thresholds, which may fluctuate from year to year. For the most up-to-date levels, visit www.Medicare.gov.
• Your annual income is higher than the limit, but you support family members who live in your home, or, if you live in Hawai‘i or Alaska.
Applying is easy:
• Social Security will mail you a notification if you are eligible. If you qualify for Extra Help but are not yet enrolled in Medicare Part D, you can enroll in a plan at that time. Call your licensed insurance agent to select the plan that best suits your needs.