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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 $16245 per year for a single person (or $21855 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 $12510 for a single person (or $25010 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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Click on the year below to change the above qualification figures for that year:
2009 2008 2007 2006
"Extra Help" income and asset(resource) limits for 2010 have not yet been established.
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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: 07/05/2009
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Life Insurance plays an important role in your families financial stability.
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