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Help available for prescription costs
Published Saturday, November 15, 2008
Karin Haugrud
Once again, the Senior LinkAge Line, Social Security and the Centers for Medicare and Medicaid Services are working together to get Medicare beneficiaries extra help with their prescription drug costs.
You can help someone you care about apply for this extra help. To determine if you or a loved one is be eligible, Social Security will need to know the income and the value of savings, investments and real estate, other than the home.
To qualify for extra help beneficiaries must have income limited to $15,600 for an individual or $21,000 for a married couple living together. Even if the annual income is higher, you or your loved one still may be able to get some help with monthly premiums, annual deductibles and prescription co-payments. Some examples where income may be higher include if you or your spouse support other family members who live with you; have earnings from work; or live in Alaska or Hawaii.
Resources or assets are limited to $11,990 for an individual or $23,970 for a married couple living together.
Resources include such things as bank accounts, stocks and bonds. Social Security does not count the house and car as resources.
Medicare beneficiaries are eligible for the extra help if they have limited income and resources. The extra help can increase their cost savings by paying for part of the monthly premiums, annual deductibles and prescription co-payments under the new Medicare Part D prescription drug program. The extra help could be worth more than $3,600 per year.
Documents that will help you prepare in advance include statements that show your account balances at banks, credit unions or other financial institutions; investment statements; life insurance policy statements; stock certificates; tax returns; pension award letters; and payroll slips.
They need to know information about your (and your spouse's, if you are married and living together) income and resources.
If you haven't received an application or information about the extra help, and you think you may qualify, you should apply. Remember, as Department of Health and Human Services Secretary Leavitt says, "If in doubt, fill it out!" You can apply Online by visiting the Help With Medicare Prescription Drug Plan Costs section on the Social Security Administration website.
If you are in need of assistance with completing the application, you may contact your local county Senior Coordinator on Aging or a trained State Health Insurance volunteer counselor.
Call the Senior LinkAge Line to learn more about the Extra Help and to the learn more about the Medicare Part D drug benefit at 800-333-2433.
This article is made possible with Older Americans Act dollars from the Land of the Dancing Sky Area Agency on Aging. Call the Senior LinkAge at 800-333-2433 to speak with an information specialist, or check out our website at MinnesotaHelp.info.
The site includes more than 12,000 agencies and 44,000 services across the state of Minnesota.
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