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New Medicare Process Begins
Medicare Prescription Drug Assistance Forms Go In
Mail Starting May 27
 April 27, 2005 - If you have limited income and
resources, you may be able to get help paying for your monthly premiums,
deductibles and co-payments under the new Medicare Part D prescription
drug program that begins January 1, 2006. On May 27, the Social Security
Administration will begin mailing over 20 million applications to older
adults and people with disabilities who may qualify for the extra help.
The average premium for the Medicare Part D
prescription drug benefit is expected to be about $37 per month for
people who do not have the low-income subsidy.
The extra help, dubbed a low-income subsidy by
the Social Security Administration, is expected to provide an average of
$2,100 per year in assistance, according to the Medicare Rights Center.
The benefit is more complex than it should be, M.
Hayes, president of the Medicare Rights Center, a national consumer
group. But it is worth getting.
From June through August 2005 the Medicare
beneficiaries who may be eligible for the extra help will be mailed an
Application for Help with Medicare Prescription Drug Plan Costs (Form
SSA-1020). Those who receive an application, you should complete and
return it as soon as possible, says the Social Security Administration.
Beginning July 1, 2005, you can also apply online
at www.socialsecurity.gov.
If you do not receive an application in the mail or
do not want to wait, you can get one by calling Social Security at
1-800-772-1213 (TTY 1-800-325-0778).
After you apply, Social Security will review your
application and send a letter to let applicants know if they qualify for
the extra help.
Those who qualify will need to enroll in a Medicare-approved
prescription drug plan to get help with the prescription costs. Plans
can be selected between November 15, 2005, and May 15, 2006, but the
earlier applicants enroll in a plan, the sooner they can begin to save
money on your prescription drugs.
Beginning in October 2005, you also will be able to
get information on the drug plans available in your area.
Who Qualifies
Here is what Social Security Says
If your annual income is below $14,355 for an
individual ($19,245 for a married couple living together), you may not
have to pay monthly premiums or deductibles, and you could pay as little
as $2 for your co-payments.
Even if your annual income is higher, you still
may be able to get some help with your monthly premiums, annual
deductibles and prescription co-payments.
Some examples where your income may be higher
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, your resources must be limited to
$10,000 for an individual ($20,000 for a married couple living
together). These resource limits can be slightly higher (an additional
$1,500 per person) if you will use some of your money for burial
expenses. Resources include such things as bank accounts, stocks and
bonds. We do not count your house and car as resources.
If you have both Medicaid with prescription drug
coverage and Medicare, Medicare and Supplemental Security Income, or if
your state pays for your Medicare premiums, you automatically will get
this extra help. You do not have to do anything.
More help:
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