The Social Security Administration has a program to help subsidize Medicare Part D prescription drug premium payments. While this is not a new program, what is new is the expansion of qualified low-income seniors eleigible for the help.
Called the Extra Help program is estimated to have an average annual benefit of $3900 for Seniors whose income is no greater than $16,245 (for singles) and $21,855 for married couples living together. Add to those figures the value of stocks, bonds, bank accounts etc. which cannot exceed $12,500 for singles and $25,010 for couples. Homes and automobiles are not factored in this equation. Now - 2 other asset bases are not counted against low-income Seniors. Cash value life insurance is not counted and neither is assistance received from family and friends if used to pay for ordinary household expenses.
If you have not qualified in the past or have a loved one or friend who you think might benefit from this - apply. The potential benefit is nothing to dismiss lightly. Apply at the Social Security Administration website.
Contact The Caregiver Foundation of America at 808-625-3782 for more information or help in investigating this benefit. Visit www.thecaregiverfoundation.com
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