Many medicare beneficiaries may not know that there is help available to them to assist with lowering the cost of their prescription costs. The medicare Part D extra help/low-income subsidy helps pay for a portion of Part D prescription drug plan costs, including Part D premiums, deductibles, and copayments. It is estimated that extra help is worth about $5,300 per year.
The resource levels to qualify are:
$16,660 for an individual
$33,240 for a married couple living together
The program does not count your primary residence that you own, personal possessions, vehicles, jewelry, or home furnishings as a resource. The program will count any owned rental property, bank accounts, stocks, bonds, retirement accounts and any cash at home or anywhere else as a resource.
The annual income limits to qualify are:
$21,870 for an individual
$29,850 for a married couple living together
You may still qualify for some level of help even if your income is higher. Some examples of reasons for qualifying with higher incomes include supporting family members who live with you, or having earnings from work. The program does not count food stamps, housing assistance, home energy assistance, or medical treatment as income.
To apply on your own at www.ssa.gov/extrahelp and follow the prompts on the website. You may also reach out to us at RHJ Insurance agency for assistance applying for extra help at www.rhjins.com or call/text 562-204-6120.
CA License #600773
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