Medicare beneficiaries can qualify for extra help with their prescription drug plan costs. The extra help is estimated to be worth about $4,000 each year. If you qualify, Social Security may provide extra help to pay for the monthly premiums, annual deductibles, and co- payments related to the Medical Prescription Drug program. In order to qualify, you must first enroll in the Medicare Prescription Drug plan. If you have Medicare and Supplemental Security Income (SSI) or Medicare and Medicaid, you are automatically qualified for receive extra help.
Additionally, you may still qualify for extra help if:
- You have Medicare Part A (Hospital Insurance) and/or Medicare Part B (Medical Insurance); and
- You live in one of the 50 States or the District of Columbia; and
- Your combined savings, investments, and real estate (not your home) are not worth more than $26,860, if you are married and living with your spouse, or $13,440 if you are not currently married or not living with your spouse. If you have more than those amounts, you may not qualify for the extra help. However, you can still enroll in an approved Medicare prescription drug plan for coverage.
