Prescription drugs can be costly and even though seniors and disabled workers are eligible for Medicare, prescription costs can be overwhelming. The good news is there is extra help out there for people who are having difficulty accessing prescription drugs prescribed by their doctor.
Anyone who has Medicare can get Medicare prescription drug coverage and people with limited income may qualify for extra help to get the Medicare prescription drug plan. Medicare offers up to $4,900 annually to help people get Medicare prescription drug coverage. Many people who qualify for this extra help are not aware of it, but like other Social Security programs and benefits it is based on financial need.
Income And Resource Limit
To qualify for Extra Help, your annual income must be limited to $18,210 for an individual or $24,690 for a married couple living together. Even if your annual income
is higher, you may still be able to get some help. Some examples where your income may be higher and you can still get Extra Help include if you or your spouse:
- Support other family members who live with you;
- Have earnings from work; or
- Live in Alaska or Hawaii.
To qualify for Extra Help, your resources must be limited to $14,100 for an individual or $28,150 for a married couple living together. Resources include the value of the things you own. Some examples are:
- Real estate (other than your primary residence)
- Bank accounts including checking, savings and
certificates of deposit
- Stocks
- Bonds, including U.S. Savings Bonds
- Mutual funds
- Individual Retirement Accounts (IRAs)
- Cash at home or anywhere else
To apply for the extra help you need to complete the application for extra help with Medicare prescription drug plan costs (SSA 1020). This form can be found online or you may call Social Security’s toll free number at 800-772-1213. You may also visit your local Social Security office.
