In 2015, the income limits were increased for Extra Help Paying for Prescription Drugs and Medicare Savings Program. These programs help pay for Part D Prescription Drug Plan costs, Medicare Part B premiums and depending on your income could pay for Part A&B deductibles and co-insurance fees.
Extra Help Paying for Prescription Drugs will help pay for monthly premiums, annual deductibles and prescription co-payments related to Medicare Part D Prescription Drug Plans. In order to qualify:
- Your resources must be limited to $13,640 for an individual or $27,250 for a married couple living together. Resources include such things as bank accounts, stocks, and bonds. Things that DO NOT count as resources: home, car, and any life insurance policy as resources.
- Your annual income must be limited to $17,655 for an individual ($1471/month) or $23,895 for a married couple living together ($1991/month).
Medicare Savings Program will help people with limited income and resources pay for Medicare premiums and if you qualify for Qualified Medicare Beneficiary (QMB) it also helps with paying Part A and B deductibles and co-insurance fees. In order to qualify:
- Your resources must be limited to $7280 for individual or $10,930 for a married couple living together. Things that DO NOT count as resources: home, car and any life insurance policy (cash value may count).
- Income:
- QMB = $1001/month individual, $1348/month couple
- Specified Low-Income Medicare Beneficiary (SLMB) = $1197/month individual, $1631/month couple
- Qualified Individual (QI-1) = $1345/month individual, $1813/month couple
The Area Agency on Aging of the Brazos Valley has staff that can help you determine if you qualify and apply for these programs if you are eligible. If you have any questions or would like to apply please call 979.595.2800 ext: 2022.
article courtesy of The Area Agency on Aging