INSURANCE

Laura Mutsko Agent, CSA and Certified Healthcare Reform Specialist

Q:

I’m on Medicare and a fixed income. I’m having trouble affording my prescription drugs. Do you know of any help that’s available for me?

A:

Many people with limited resources and income qualify for a prescription savings program but may not be aware of it. It is Medicare’s Extra Help program. This program pays for many of the costs related to your Medicare prescription drug plan, including monthly premiums, annual deductibles and prescription co-pays. According to information provided by the Social Security Administration, “The Extra Help is estimated to be worth about $4,000 per year.”

To qualify for Extra Help, a person must be receiving Medicare, and be enrolled in a Medicare Prescription Drug plan. They must also have limited resources and income, and reside in one of the 50 States or the District of Columbia.

In 2017, those who qualify for Extra Help will pay no more than $3.30 for each generic prescription and $8.25 for each brand-name covered drug.

In general, you qualify for Extra Help in 2017

• You are single and your income is less than $18,090.

• You are married, living with your spouse, and have an income less than $24,360

• Your resources are below $13,820 for an individual or $27,600 for a married couple.

It is important to note that your home, car and life insurance policy are NOT counted as resources. The Extra Help program considers resources to be such things as money you have in a checking or savings accounts, stocks and bonds.

I encourage you to apply, even if your annual income is higher than the guidelines listed here. You may still be able to get some help. There are some exceptions for special circumstances. For example, you may still qualify if you or your spouse supports other family members or has earnings from work.

To apply for Extra Help, call Social Security at 1-800-772-1213. You can also apply online at www.socialsecurity.gov/ extrahelp.

Another option is to look into savings programs offered by many drug companies. To find one that covers the medication you are taking, visit Medicare.gov and search for Pharmaceutical Assistance Program.

You can also learn more about programs that can help you save money on prescriptions, health care costs and much more at the National Council on Aging’s screening website, www.benefitscheckup.org. It is easy to understand, secure and will help you find the programs that meet your unique needs.

If you have questions and would like to learn more about life, health, dental, vision, Medicare Supplements or Medicare Advantage plans, please call me at 440-255-5700 or email me at Lmutsko@mutskinsurance.com. I will help you find the right insurance plan for you.

Laura Mutsko Mutsko Insurance Services, LLC 6966 Spinach Drive, Mentor, OH 44060 440-255-5700 www.mutskoinsurance.com