Pocono Lyme
Frequent Contributor (1K+ posts)
Member # 5939
posted
I received this in my email today from Dr. Jeremiah as I'm on his list. It may help some here or someone you know who needs help.
There are several financial assistance programs that can help Medicare beneficiaries who are having a tough time paying their out-of-pocket health care costs.
Here is a list of programs along with their eligibility requirements and steps to apply.
Medicare Savings
Medicare Savings Programs (MSP) help lower-income Medicare beneficiaries pay premiums and out-of-pocket costs for Medicare Parts A and B.
This program has several different benefit levels for people with different financial resources.
At its most generous, the program will pay your Part B premium and pretty much all your Medicare deductibles and coinsurance.
At its least generous, the program will just pay your Part B premium.
To qualify for a MSP, you must receive income under 135% of the federal poverty level or around $1,313 a month for individuals.
Everything counts towards income, including payouts from 401(k) plans, pensions, Social Security and help from family members.
Medicare also allows states to impose an asset test, which can be as little as $7,080 per individual, not counting your house or car but counting retirement savings and bank accounts.
Some states have made their MSP programs more generous by instituting much higher income limits and – in some cases—no asset test. Also, the name of the program may be different in your state.
To find out if you qualify or to apply, contact your local Medicaid office (call 800-633-4227 for contact information).
Medication Assistance
Extra Help assists with Medicare prescription drug plan costs. To receive assistance through this program you'll need to apply through your local Social Security office.
Depending on your level of income the program will pay all or part of your Part D prescription drug plan premium and deductible, will pay a large portion of your copay and will completely eliminate the coverage gap.
In 2013, individuals with an income below $1,436 per month and assets under $13,300 can qualify for Extra Help.
If you're eligible to be in a Medicare Savings Program you will automatically qualify for Extra Help.
However, since the requirements are slightly different, even if you don't qualify for a Medicare Savings Program for Part B you might be able to get Extra Help for Part D.
For more information or to apply call Social Security at 800-772-1213 or visit socialsecurity.gov/prescriptionhelp.
Get Help
To find out if you're eligible for these programs use the National Council on Aging's web-based tool at benefitscheckup.org.
You'll need to fill out an online questionnaire that asks things like your date of birth, zip code, expenses, income, assets and a few other things.
Once completed you'll get a report detailing which programs you may qualify for. If you qualify for a Medicare Savings Program the site will allow you to download application forms.
In the case of Extra Help, you will be able to complete your entire application online. This web-based tool even knows the specific MSP eligibility rules in your state.
If you don't have Internet access, contact your State Health Insurance Assistance Program (SHIP) and request a free one-on-one Medicare counseling in person or over the phone.
To locate your local SHIP call the eldercare locator at 800-677-1116.
Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Senior" book.
The articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics.
Jim invites you to send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070.
9 But he said to me, �My grace is sufficient for you, for my power is made perfect in weakness.� Therefore I will boast all the more gladly about my weaknesses, so that Christ�s power may rest on me. Posts: 1445 | From Poconos, PA | Registered: Jul 2004
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Rivendell
Frequent Contributor (1K+ posts)
Member # 19922
posted
Thanks for posting this Pocono.
Posts: 1358 | From Midwest | Registered: Apr 2009
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Dogsandcats
Frequent Contributor (1K+ posts)
Member # 28544
posted
This is great information- thank you.
-------------------- God will prepare everything for our perfect happiness in heaven, and if it takes my dog being there, I believe he'll be there.
Billy Graham Posts: 1967 | From California | Registered: Oct 2010
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Tincup
Honored Contributor (10K+ posts)
Member # 5829
posted
Agreed! Thanks so much! I posted it on the "Help For You" pages on some of the websites below with credit to you for sharing.
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