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Will there be additional financial assistance based on personal need?
The Federal Government provides an extensive program for people needing financial assistance with the Medicare Part D program. Depending on your income level (or available financial resources), Medicare will provide "extra help" that may cover 85% to 100% of prescription costs and may also pay a part or all of your Medicare Part D premiums.
Who Qualifies for "Extra Help"?
If your income is below $14,355 per year for a single person (or $19,245 for a married couple living together or even more if you have dependent children or grandchildren living with you), AND if your assets are below $11,500 for a single person (or $23,000 if you are married).
The following items are included in assets:
- bank accounts,
- stocks and bonds, and
- life insurance policies
The following items are NOT included in assets:
- the house you live in,
- your car, and
- other personal possessions such as your furniture and jewelry
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Who Should You Contact for "Extra Help"?
Medicare Beneficiaries Who are interested in qualifying for financial "extra help" with the Medicare Part D Prescription Drug plans should call 1-800-MEDICARE (1-800-633-4227);
TTY/TDD users should call 1-877-486-2048, 24 hours a day/7days a week,
or Your State Medicaid Office,
or the Social Security Administration at 1-800-772-1213 between the hours of 7 a.m. and 7 p.m.EST, Monday through Friday;
TTY/TDD users should call 1-800-325-0778.
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Last updated on: 07/18/2008
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