How Do I Know If I Qualify For Extra Help For Medicare Part D?
Important information made available to see if you qualify for extra help for Medicare Part D through a low-income subsidy. Find out if you are eligible for financial assistance.
Anyone who is enrolled in Medicare is also eligible to enroll in Medicare Part D regardless of his or her financial situation or income. Medicare wants to ensure that this prescription drug plan is affordable and available to all Medicare recipients. Some low-income individuals may qualify for extra help for Medicare Part D, as long as they are currently enrolled in Medicare.
Some lower income individuals may qualify for a low-income subsidy to assist in reducing the costs incurred from Medicare Part D. Subsidy amounts are determined by the beneficiary’s income and total assets amount. Financial assistance is available based upon the following:
•Individuals who are enrolled in Medicare or receive full Medicaid benefits and are institutionalized in either a nursing facility
or an immediate care center for the mentally retarded, will have absolutely no costs associated with Medicare Part D.
•Individuals who receive comprehensive Medicaid coverage will pay no premiums or deductibles.
•Those Medicare beneficiaries whose income is less than 150% of the poverty level may qualify for extra help for Medicare Part D in the form of subsidiary assistance. The amount of assistance available to the beneficiary will depend upon the individual’s income and asset values.
How is a subsidy amount determined?
Financial assistance for payments of a Medicare Part D Plan is available through the State of occupancy or the Social Security Administration. To apply for extra help for Medicare Part D, a simple application form must be completed and submitted. The application process can be completed on the phone, via the Internet, or by mail. Once the application is received, it is reviewed to determine the beneficiary’s eligibility for assistance.Source: www.todaysseniors.com