Medication Costs Stopping You From Getting What You Need? Apply for Medicare Part D “Extra Help”!
Sections:
Understanding Medicare Part D
What is the Extra Help program?
Eligibility Guidelines
Step-by-Step Application Process
Understanding Your Medicare Drug Coverage (Part D)
If you’re a Baltimore resident on Medicare, it’s essential to know how Medicare Part D can help lower your prescription drug costs. To receive this coverage, you must enroll in a Medicare-approved plan. There are two ways you can receive Medicare drug coverage.
First, you can enroll in a separate Medicare Part D Drug Plan which adds drugs coverage to original Medicare. For this option, you need to be enrolled in Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance). If you didn’t enroll in a Part D plan within 63 days after obtaining your Part A and Part B plans, you’ll have to pay a penalty. This adds 1% to your monthly Part D premium for each month you delay enrolling (which can add up to 12% more per year you delay).
Second, you can enroll in a Medicare Advantage Plan which bundles Medicare Part A, Part B, and usually Part D. Before enrolling, please call the Medicare Advantage Plan provider to inquire about any Part D benefits.
When Can You Enroll in a Medicare Part D Plan?
If you already have Medicare Part A and/or Medicare Part B, you can enroll in a Medicare Part D Plan during the Open Enrollment Period (October 15th to December 7th).
If you are new to Medicare (just applied for Medicare Part A and/or Medicare Part B), You can enroll in a Medicare Part D Plan during the Initial Enrollment Period (3 months before you got your basic Medicare Coverage and up to 3 months after).
If you would like to change your Medicare Advantage Plan and you are already covered by one, you can do so during the Medicare Advantage Open Enrollment Period (January 1st to March 31st).
If you qualify for Medicare Part D “Extra Help”, you can apply any time, and you will automatically be enrolled in a Medicare Part D plan. If you have Medicare Part D “Extra Help”, you can change your insurance coverage during the Special Enrollment Period (once every month)
What is the “Extra Help” program?
Medicare offers a program called “Extra Help” to aid individuals in paying Medicare Part D costs such as premiums, deductibles, enrollment delay penalties, and prescription costs. This will make all your Medicare Part D premiums and deductibles $0. In addition, each generic drug prescription will cost $4.90 or less, and each brand-name drug prescription will cost $12.15 or less. If you reach a total drug cost of $2,000, each covered drug will be $0 under the Medicare Part D program.
If you have full Medicaid coverage, get help from a state Medicare Savings Program, or get Supplemental Security Income (SSI), then you should be automatically enrolled in Medicare Part D “Extra Help”. If you feel as though you are paying the wrong costs for you medications, contact your insurance provider or call 1-800-633-4227 (TTY: 1-877-486-2048) for a Medicare representative.
If you are not automatically enrolled in “Extra Help” and fall under the following income and resource limits, you will need to apply for it.
If you are single, your annual income must be below $22,590 and your additional resources (checking account, savings account, retirement account, stocks, and bonds) must be below $17,220.
If you are married, your combined annual income must be below $30,660 and your additional resources (checking account, savings account, retirement account, stocks, and bonds) must be below $34,360.
Use this link and find the blue “Apply online” button. Next, scroll to the bottom of the welcome page and click on the “Apply Now” button under the “What Do You Want To Do” section. Follow the instructions on the form.
If you’re looking for additional guides for community or government programs, you could benefit from, explore bmorebenefits.com!
Leave a Reply