Do You Qualify for Help with Medicare Drug Costs?
There are different options for qualifying beneficiaries to obtain help with Medicare drug costs. In most cases you have to earn a limited amount of income while receiving Medicare benefits. There are a few sources you can contact such as Medicare and Social Security to learn more about how to get extra help. There is information for caregivers to learn as well when providing support for someone with Medicare. Here are basic details to give an idea of how to get help for drug costs.
Get Detailed Information through Social Security
According to Social Security you could save roughly $4,000 a year on drug cost with extra help options. The Social Security Administration has information on how to sign up for assistance. You can learn how to qualify, what program options are available, eligibility, and more. You can visit their website (ssa.gov/medicare/prescriptionhelp) or contact them by phone or mail.
What You Should Know When Applying for Help
Anytime you experience changes in income is when to seek help with Medicare drug costs. The Medicaid office and SHIP or the State Health Insurance Assistance Program can provide additional details based on your situation on how to receive assistance with costs. There are people who qualify automatically for extra help such as those on Medicaid, Medicare Savings Programs, or those receiving SSI or Supplemental Security Income benefits.
You may be required to pay a specific amount for your drug plan or you can get information to help you understand if you are paying what is required. Keep receipts related to drug costs. If it is determined you are paying too much for prescription costs you could get some of that money back.
Additional Ways to Reduce Prescription Drug Costs
If you are seeking additional help with Medicare drug costs there are additional actions you can take to keep costs low. Discuss with your doctor about generic drug options and those most effective as name brand medicines. Ask about brands that are less expensive. Mail-order pharmacies offer affordable options. Medicare has a tool on their website (Medicare Plan Finder) that helps you compare drug costs by plan. You could make the switch to another plan that offers better coverage. Learn about the company that produces the drug you need and see if they offer discounts or options to cover the cost.
There are pharmaceutical assistance programs by state offering help. You can use an online tool through Medicare.gov to learn what is available in your area. You can also call Medicare office to get this information. Additional program options such as Medicaid and Medicare savings programs may have programs for seniors and those who qualify. There are details to pay attention to related to your help plan. For instance, if you receive assistance to use with your Part D coverage, you should not pay more than a specific amount or coverage cost limit associated with the drug (including generic and brand name for the drug in question).