Medicare Beneficiaries may be eligible for extra help to pay for prescription drugs

Published 8:22 pm Friday, March 7, 2014

Low income Medicare beneficiaries may be eligible for extra help to pay for prescription drugs. Included in the Medicare Part D (prescription drug coverage) is a provision to help those who cannot afford their medications even with insurance.
On Tuesday, March 11 at 1 p.m., Senior Health Insurance Information Program (SHIIP) counselors will be available at the Polk County Library in Columbus to assist eligible individuals with enrollment for the Extra Help.
Those who receive Medicare and either Medicaid or SSI, you have been automatically enrolled in this program and do not need to do anything. Those who have Medicare but do not receive Medicaid or SSImust meet the following requirements to be eligible for the program:
• Have Medicare A and/or Medicare B; and
• Live in one of the 50 states or the District of Columbus; and
• Combined savings, investments, and real estate are not worth more than $26,680, if married and living with spouse, or $13,440 if you are not currently married or not living with your spouse (Do not count home, vehicles, personal possessions, life insurance, burial plots, irrevocable burial contracts or back payments from Social Security or SSI.) Those who have more than those amounts you may not qualify for the extra help. However they can still enroll in an approved prescription drug plan.
• Income must be no more than $1,436.25 per month for an individual or $1,938.75 per month for a married couple living together.
The Extra Help Program, or Low-Income Subsidy (LIS), helps qualified Medicare recipients pay for their prescription drug program costs, such as premiums, deductibles and coinsurance.
It is important to consider that any level of assistance provides the elimination of the Part D coverage gap, the opportunity to change drug plans at any time, a reduced Part D deductible, a reduced Part D copay, a reduced cost of the drugs and the elimination of any late enrollment penalty.
Applications completed on Tuesday will be submitted to the Social Security Administration which will process and determine eligibility. SSA will notify applicants of qualification for assistance and the level of that assistance.
For questions, please contact The Meeting Place at 828-894-0001.

– article submitted
by Pam Dotie

Sign up for our daily email newsletter

Get the latest news sent to your inbox