Medicare is not free, despite receiving federal funding so here get latest updates on it. Medicare expenditures differ from person to person based on a variety of health-related characteristics and other variables. The cost of yearly deductibles, copayments, and monthly premiums are increasing rapidly in USA. When monthly prescription medication costs are included, the amount may be rather high.
This is where the Part D Low-Income Subsidy, also known as Extra Help, comes in. Medicare Extra Help is a government subsidy that helps beneficiaries of Medicare pay for their prescription medication coverage out-of-pocket. Now check this page for Up to $5300 Help for Low Income Seniors in Medical and Prescribed Drugs Cost in USA as i am updating it here.
Up to $5300 Stimulus Checks for Low Income Seniors
A government program called Extra Help assists Medicare Part D enrollees who have low incomes and few resources in covering the cost of prescription medicines. For qualified Medicare Part D beneficiaries, Extra Help, commonly known as the Part D Low-Income Subsidy, is estimated by the government to be worth around $5,300 annually. The final year for partial subsidies is 2023 and for those making up to 150% of the FPL, the full Extra Help subsidy will be offered starting in 2024.
What does USA’s Medicare Extra Help cover?
Only Medicare Part D expenditures are eligible for Extra Help. Deductibles, copays, and Part A or Part B premiums are not covered by it. According to the Social Security Administration, the yearly value of Extra Help is projected to be $5300. The amount of Extra Help that a recipient receives is depend upon their annual income and may cover all or part of their Part D expenditures.
USA Extra Help eligibility
- You can be eligible for Extra Help if your assets are below certain restrictions and your monthly income is up to USD 1,843 (USD 2,485 for couples) in 2023. The Social Security Administration (SSA) automatically deducts USD 20 from your monthly unearned income (such as retirement income) as part of these restrictions.
- You may still be eligible for Extra Help even if your income or assets are beyond the qualifying limitations because, in addition to the $20, other forms of income and assets may not be counted.
- Extra Help eligibility is automatic for those enrolled in Medicaid, SSI, or Medicare Savings Programs (MSPs). Eligibility for Extra Help is not dependent on meeting additional conditions. The Centers for Medicare & Medicaid Services should send you a purple-colored note letting you know that you don’t need to apply for Extra Help.
Extra Help income limits
Extra Help income restrictions are determined by the federal poverty threshold, or FPL. The following are the 2023 income limitations for residents of the District of Columbia, the contiguous states, and Alaska (the figures for residents of Alaska and Hawaii vary):
|Limit for partial subsidies
|Limit for full subsidies
|Percentage of the FPL
|USD 1,823 per month, or USD 21,870 per year.
|USD 1,640 per month, or USD 19,683 per year.
|USD 2,465 per month, or USD 29,580 per year.
|USD 2,219 per month, or USD 26,622 per year.
How to apply for Extra Help in USA?
- The Social Security Administration (SSA) offers both paper and online applications for the Extra Help program. If you do not have Medicaid, Supplemental Security Income (SSI), or a Medicare Savings Program (MSP), you may apply through the SSA. (You should be registered in Extra Help automatically if you have Medicaid, SSI, or an MSP.) Go to www.ssa.gov to apply online.
- This application may also be used to screen you for a Medicare Savings Program, which lowers your monthly Medicare expenses, depending on procedures in your state. To ensure you receive all the benefits for which you are eligible, fill out the application completely and with correct information.
- You can also apply over the phone by phoning the Social Security Administration at 1-800-772-1213, which is a toll-free number (or 1-800-325-0778 for TTY users).
- You must know that prescription medications that are covered by your Part D plan will have your expenses reduced by Extra Help. The Special Enrollment Period (SEP) is used to sign up for Part D prescription coverage if you do not have a Part D plan but are qualified for Extra Help.
- You can file an appeal with the Social Security Administration (SSA) if your request for Extra Help is turned down or if you don’t agree with the amount you were given. When you file an appeal, you will be able to provide details as to why you are eligible.