With Medicare Open Enrollment around the corner (again!), it’s time to start thinking about your prescription drug costs for next year. And if you think you may have trouble paying for all of your prescription drugs, don’t forget that Extra Help may be available! Literally. If you are on Medicare and are having trouble paying for your prescription drugs, you may qualify for the Medicare/Social Security Extra Help prescription drug program which can help you pay for your prescription drugs. The Extra Help program is estimated to be worth an average of $3,900 in prescription drug assistance a year, so if you are having trouble affording your prescription drugs it is very worth investigating.
Am I Eligible For Extra Help?
In order to qualify for the Extra Help program, you must be on Medicare, have limited income and resources, and reside in one of the 50 states or the District of Columbia. The good news is that changes in the law have made qualifying for the Extra Help program easier than in the past because some things no longer qualify as income or resources.
Specifically, in order to qualify for Extra Help:
•You must reside in one of the 50 states or the District of Columbia.
•Your resources must be limited to $12,640 for an individual or $25,260 for a married couple living together. Resources include such things as bank accounts, stocks, and bonds (Your house and car don’t count!); and
•Your annual income must be limited to $16,245 for an individual or $21,855 for a married couple living together. Even if your annual income is higher, you still may be able to get some help. Some examples where your income may be higher are if you or your spouse:
◦Support other family members who live with you;
◦Have earnings from work; or
◦Live in Alaska or Hawaii.
This Sounds Great! How Do I Apply?
•You can apply online at Extra Help;
•Call Social Security at 1-800-772-1213 (TTY 1-800-325-0778) to apply over the phone or to request an application; or
•Apply at your local Social Security office.
Have you applied to the Extra Help program? Tell us about it!
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