I’m sure I don’t have to tell you this, but prescription drugs are very expensive. Many people spend much of their time worrying about whether or not they can afford the drugs they need. The good news is that anyone with Medicare can get Medicare prescription drug coverage. What many aren’t aware of is the fact that some people with limited income and resources can apply for extra help. Medicare extra help can assist with monthly premiums, annual deductibles, and prescription co-payments. The extra help can sometimes be worth up to $4000 a year; many qualify for extra help and don’t even know it. Surprise!
How to apply:
Applying for Medicare extra help is fairly simple. You can apply online at www.socialsecurity.gov/extrahelp or call Social Security at 1-800-772-1213. If you would rather apply in-person you may apply at your local Social Security office. After reviewing your application Social Security will follow up with a letter to let you know if you qualify.
Those that are accepted receive either “partial” or “full” extra help. Either way, once accepted you will never pay full price for drugs that you are prescribed if they are purchased at the pharmacy in your plan’s network. If you reach catastrophic coverage, which kicks in at $6,733.75, you will pay even less. It’s comforting to know that there is help for the millions of people struggling with the cost of prescription drugs.