Struggling To Pay For Medicare Expenses? Medicare Extra Help May Be An Option
Medicare Extra Help is a convenient program that can help seniors and certain disabled individuals better afford their prescription medications under Medicare. Just like the Medicare program itself, the Medicare Extra Help program is managed by the U.S. federal government.
Through the Medicare Extra Help program, certain low-income individuals who are enrolled in Medicare Part D: Prescription Drug Coverage plans may be eligible for financial assistance when it comes to paying for their medications. But who exactly is eligible for Extra Help?
Do I Qualify For Medicare Extra Help?
Qualification for Extra Help is mostly contingent on certain income and resource limits. As long as you meet this criteria, you will likely be eligible to apply for the program. Currently, the Medicare Extra Help Income limits are as follows: you must make less than $19,320 in yearly income ($26,130 for married couples) and own less than $14,790 in resources ($29,520 for married couples).
There are a number of resources that typically DO COUNT toward your income as it pertains to eligibility for Extra Help. These include:
- Money in a checking or savings account
- Stocks
- Bonds
There are also several resources that typically DO NOT COUNT toward your income as it pertains to eligibility for Extra Help. These include:
- Your home
- One car
- Burial plots
- Up to $1,500 allocated for funeral expenses
- Furniture
- Other household items and personal belongings
Certain individuals may qualify for Extra Help simply because they already have Medicare and also receive full Medicaid coverage, state Medicaid assistance with Part B premium payments, or Supplemental Social Security Income benefits.
It’s important to remember that even if you do not qualify for Medicare Extra Help the first time, there are still many state programs that may be able to provide relief with drug costs. Additionally, if your income or resources change at any point, you are encouraged to re-apply for Medicare Extra Help as needed.
How Do I Apply For Medicare Extra Help?
Applying for Medicare Extra Help is actually quite simple. You can apply for the program via the official website of the U.S. Social Security Administration, or by calling Social Security at 1-800-772-1213 (TTY 1-800-325-0778). From there, you can apply over the phone, request a paper application, or schedule an appointment to apply at your local Social Security office.
It’s important to remember that applying for Extra Help does not automatically enroll you in Medicare Part D. Remember that you will need to be enrolled in a Medicare Part D Prescription Drug plan in order to apply for Extra Help.
Have Other Questions About Medicare & Medicare Extra Help?
If so, our friends at MedicareInsurance.com can help. For assistance applying for Medicare or for more information on the programs and benefits that may be available in your area, don’t hesitate to contact their licensed insurance agents at (800) 950-0608 today.
