Do You Qualify for Enhanced Medicare Drug Coverage?
Do you qualify for the Medicare program "Extra Help"? Are you sure? It seems that due to changes in the qualification process many people who did not qualify in the past are now eligible but have not taken advantage of the program. Prescription drugs are incredibly expensive and it might pay to take another look at the program.
A recent report by the Centers for Medicare and Medicaid Services states as many as 2 million people on Medicare who are eligible are not enrolled in the Medicare Low Income Subsidy Program designed to help with the high cost of prescription medications. Perhaps many are not enrolled because recent changes made it easier to qualify?
In the past many did not qualify because certain assets were used to show eligibility for the LIS program that is no longer used such as home, car and life insurance policies. But that has changed and these things are no longer included in the qualification process.
If you failed to qualify for the program in the past then perhaps it is time to reapply? After all who couldn't use the extra help that full Medicare drug coverage would allow?
If you are a Medicare beneficiary with incomes less than $16,335 a year or $22,065 for a married couple, and have resources limited to $12,640, or $25,260 for a married couple, then you qualify. Resources that are currently used to show eligibility in the program are bank accounts, stocks and bonds but not home, car or life insurance.
If your income and assets fall between the new guidelines then you should call your health insurance agent to see if you qualify for the Medicare Low Income Subsidy Program. It only takes a few minutes and could save you big money at the pharmacy.
For more information on Medicare, contact Medicare Is Simple at (800)266-3354. We'll help you find the right insurance coverage that fits your lifestyle. The best Medicare plan is only a few clicks away.