Medicare beneficiaries can qualify for Extra Help paying for their monthly premiums, annual deductibles, and co-payments related to Medicare prescription drug coverage. The Social Security Administration estimates that Extra Help is worth about $5,100 per year in 2022. To qualify for Extra Help, you must be receiving Medicare and have limited resources and income. You must also reside in one of the 50 states or the District of Columbia. This program assists low-income Medicare beneficiaries in paying for Medicare prescription drug insurance premiums, deductibles, and coinsurance. It also helps with the cost of prescription drugs not covered by Medicare Part D . The program is available to people with limited income and resources who do not qualify for Medicaid and who have not yet enrolled in Medicare Part D . The state Medicaid agency administers the program. It is funded jointly by the state and the federal government. To participate, you must also have coverage with one of the following Medicare health plans: Medicare Advantage Part C – Prescription Drug Plan; a stand-alone prescription drug plan (PDP); or Medicare Advantage Part C – HMO Medicare Advantage plan with a prescription drug benefit (MA-PD). Call Kevin Leinum – your local Medicare Expert about what Medicare covers or how enrolling in a Medicare Advantage or Medicare Supplement plan can improve your coverage and reduce your out-of-pocket costs.
