Medicare Prescription Drug Assistance can Save $4,000

 Mr. Jones is able to live within his $1300 Social Security check, but the cost of of his prescription medications take a big bite out of his income.  I was able to make his family aware that  their father, who  is covered by Medicare and has limited income and resources, may be eligible for Extra Help — available through Social Security — to pay part of his monthly premiums, annual deductibles, and prescription co-payments.

 To qualify for the extra help, the recipient must be receiving Medicare and have:

 •           Income limited to $16,335 for an individual or $22,065 for a married couple living together. Even if  annual income is higher, he 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 he and, if married, his wife:

            —Support other family members who live with them;

            —Have earnings from work; or

            —Live in Alaska or Hawaii.

 •           Resources limited to $13,070 for an individual or $26,120 for a married couple living together. Resources include such things as bank accounts, stocks, and bonds. We do not count the primary residence or car as resources.

If you think that you or your parent may be eligible, Social Security has an easy-to-use online application. Find it at www.socialsecurity.gov/prescriptionhelp. To apply by phone or have an application mailed to you, call Social Security at 1-800-772-1213 (TTY 1-800-325-0778) and ask for the Application for Help with Medicare Prescription Drug Plan Costs (SSA-1020). Or go to the nearest Social Security office.

 I was happy to be able to help my client save an estimated $4,000 a year on Medicare prescription drugs.

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