Medicare “Extra Help”: Eligible Seniors Not Signing Up
Need help paying for your medication? Medicare offers an “Extra Help” program to cover some of your costs under Part D. But over 2 million eligible seniors still haven’t signed up for it, reports Kaiser Health News.
Seniors and the disabled are eligible for the subsidy if their income is less than $16,245 a year for individuals and $21,855 for married couples living together. The value of their stocks, bonds and bank accounts can’t exceed $12,510 for individuals and $25,010 for married couples. The income definition doesn’t include the value of homes or automobiles.
You can read more here: “2 Million Medicare Beneficiaries Missing Out on Discounted Drug Coverage.” According to the article, “The government estimates Medicare recipients can save an average of $3,900 a year.”
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Leigh Ann Otte is a freelance writer who covers finding and paying for senior care for OurParents.
A more intensive dissemination of information would be appropriate in this case. Obviously most of our seniors aren’t aware of this.