Will there be additional financial assistance based on personal need?
The Federal Government provides an extensive program for people needing financial assistance with the Medicare Part D program. Depending on your income level (or available financial resources), Medicare will provide "extra help" that may cover 85% to 100% of prescription costs and may also pay a part or all of your Medicare Part D premiums.
Who Qualifies for "Extra Help"?
If your income is below $14,355 per year for a single person (or $19,245 for a married couple living together or even more if you have dependent children or grandchildren living with you), AND if your assets are below $11,500 for a single person (or $23,000 if you are married).
The following items are included in assets:
bank accounts,
stocks and bonds, and
life insurance policies
The following items are NOT included in assets:
the house you live in,
your car, and
other personal possessions such as your furniture and jewelry
Who Should You Contact for "Extra Help"?
Medicare Beneficiaries Who are interested in qualifying for financial "extra help" with the Medicare Part D Prescription Drug plans should call 1-800-MEDICARE (1-800-633-4227);
TTY/TDD users should call 1-877-486-2048, 24 hours a day/7days a week,
or Your State Medicaid Office,
or the Social Security Administration at 1-800-772-1213 between the hours of 7 a.m. and 7 p.m.EST, Monday through Friday;
TTY/TDD users should call 1-800-325-0778.
