Help with Medicare prescription drug costs availableAround this time of year, those who have Medicare Part D prescription drug coverage may see themselves becoming closer to the doughnut hole.
Around this time of year, those who have Medicare Part D prescription drug coverage may see themselves becoming closer to the doughnut hole.
The doughnut hole is the gap in coverage in which an individual will have to pay full price for prescription drugs until more than $4,000 is paid out-of-pocket.
Many Medicare beneficiaries may have trouble paying for prescription drugs in the doughnut hole, if not before. Help is available.
Medicare beneficiaries may apply for extra help, also known as Low Income Subsidy (LIS) through the Social Security Administration to receive assistance paying for their Medicare prescription drug costs.
If someone qualifies for extra help, they will pay a lower drug plan premium, smaller annual deductible and lower co-insurance and co-pays for covered prescription drugs.
The monthly income guidelines requires individuals to have less than $1,353.75 monthly income and couples to have less than $1,821.25 for a monthly income. Individuals must also have assets less than $12,510 and assets for couples may not exceed $25,010.
There are different levels of extra help available depending on income and resource limits. More information and an online application are available at the Social Security Administration website at www.ssa.gov.
Call the Senior LinkAge Line at 1-800-333-2433 for assistance with completing an extra help application or for help understanding the Medicare prescription drug benefit. Help is available over the phone or in person.
The Senior LinkAge Line is a free service of the Minnesota Board on Aging, as well as the Minnesota State Health Insurance Assistance Program (SHIP). Specialists provide one-to-one assistance with all Medicare and health insurance issues and also provide in-depth long-term care options counseling.
Call 1-800-333-2433 for assistance or go to www.Minne sotaHelp.info to chat live with a Senior LinkAge Line specialist.