Anyone who has Medicare is allowed to also obtain Medicare’s prescription drug coverage. But for those who have a limited amount of income or other financial resources, it may be possible to qualify for help with health care and prescription drug costs through Medicare’s Extra Help program.
Extra Help is a program through Medicare that is designed for helping individuals with payment of their prescription medication expenses, such as your deductibles and coinsurance, and even with the premiums that you pay on your Medicare Part D prescription drug plan coverage.
While many people feared that the Affordable Care Act would change or alter these cost savings or assistance programs in some way, the good news is that the new law did not change these options.
In order to qualify for the Extra Help program, you must meet the following criteria:
In 2014, Medicare’s qualification criteria in terms of limited financial resources is as follows:
In order to apply for Medicare’s Extra Help program, there are several options. You can do so by visiting a Social Security office in person. You may also opt to do so by contacting Social Security by phone, or by going to the Social Security website via the Internet.
Once your application for Extra Help has been reviewed, you will be notified as to whether or not you have qualified. If so, you will be allowed to choose a Medicare prescription drug plan. If you do not choose a plan, Medicare will choose a plan for you.
At the time that you file your Extra Help application, you may also apply for the Medicare Savings Programs as well. These state programs are available to assist you with other Medicare related expenses. In certain cases, these programs can help you with paying for your Medicare Part A and Part B deductibles and co-payments.
There are four different Medicare Savings options available through the Medicare Extra Help program. These include the following:
You may qualify for one or more of these programs, depending on your particular circumstances. At NYMedigap.com we are here to assist you and make sure you get the best rates on all facets of Medicare, so contact us if you have any questions.