Help with Medicare Prescription Drug Plan costs
As you know prescription drug costs can really break the bank, but for many, there is help.
You can apply for help that lowers the costs of your prescriptions; it can also lower the cost of your drug plan premium, and possibly your Medicare Advantage Plan premium as well.
This program is called Extra Help. In many cases, if you qualify for this program you can get assistance with your Medicare Part B Premium as well through a Medicare Savings Program.
If you are already on Medicaid or on a Medicare Savings program then you are automatically enrolled in the Extra Help program.
The Extra Help Program provides the below Benefits:
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Lowers the cost of your prescriptions - The drug has to be on the formulary of the plan you select for the assistance to work.
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Pays a portion or all of your part D Premium, including the Part D portion of a Medicare Advantage plan. The amount that can be applied varies from state to state.
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Provides you with a Special Enrollment Period. This allows you to change your drug or advantage plan once a quarter outside of the Annual Enrollment period. (10/15 - 12/7)
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And last but not least if you had a late enrollment period for your Medicare Part D, the penalty is eliminated when you receive extra help.