Posted on August 7, 2023 by Larry Johnson
A non-government site powered by Health Insurance Associates, LLC., a health insurance agency.
Posted on August 7, 2023 by Larry Johnson
Medicare program helping seniors save on Medicare Part D costs set to expand availability to over 3 million Americans in the coming year.
If you’re a senior living on a low fixed income, you probably know about the Medicare Extra Help program. Medicare Extra Help allows seniors like you to lower the Out-of-Pocket (OOP) costs you pay for your Medicare Part D plan. However, not all Medicare Extra Help news is good news. If your income is above a certain threshold on the Federal Poverty Line, you may not be eligible.
Those of you who weren’t eligible before, keep reading. You might just get the best Medicare news you’ve ever heard.
The Extra Help rules are about to change!
If you remember, the Inflation Reduction Act (IRA) passed in 2022 included many positive Medicare changes. One of those changes – a long-awaited expansion of the Medicare Extra Help program – could enable nearly 3 million seniors to be eligible for Medicare Extra Help. You may be one of the 3 million who are eligible!
Research by writers at MedicareInsurance.com showed that, previously, you could only qualify for the program if you were at or below the Federal Poverty Guideline. The IRA expanded the Extra Help program by raising the income level to 150% of that line. This means seniors like you were given partial or full access to Medicare Extra Help to cover your prescription medications!
As of 2024, the news only gets better. Are you ready for it?
If you qualified for partial Extra Help coverage in 2022, you’ll begin receiving FULL Extra Help benefits as of 2024!
Yes, you heard us right – FULL Extra Help benefits!
Now, like millions of other seniors who receive Extra Help, you’ll pay:
If you’ve never received Medicare Extra Help benefits, and you believe that you qualify, you can apply online via the Social Security website. You can also call the Social Security hotline at (800) 772-1213 (TTY: 800-325-0778) to apply. If you were approved for the Medicare Extra Help program last year, you won’t need to reapply for benefits – you’ll simply keep receiving them!
Not currently enrolled in a Medicare Part D plan? Don’t worry! Once you qualify for the Medicare Extra Help program, you can choose a Part D plan. Plan specialists, such as the licensed insurance agents at MedicareInsurance.com, are available to help you find a comprehensive Medicare Part D plan should you choose to do so.
MedicareInsurance.com has run on a simple mission since 2008: to help seniors navigate the complicated world of Medicare and Medicare enrollment with care, compassion, and expert-level knowledge. Based in Daytona Beach, FL, MedicareInsurance.com’s licensed insurance agents help thousands of seniors find comprehensive Medicare Advantage, Medicare Prescription Drug coverage, and Medigap supplemental plans that meet their needs. As a full-service independent insurance agency, MedicareInsurance.com helps seniors compare options from top-rated insurance companies to find a policy that’s right for them.
MedicareInsurance.com is privately owned and operated by Health Insurance Associates, LLC. MedicareInsurance.com is a non-government asset for people on Medicare, providing resources in an easy to understand format. If you are in need of the official Center for Medicare and Medicaid Services (CMS) Medicare website, please visit http://www.medicare.gov.
Larry Johnson
Larry is a content writer with several years of experience in creating informative content for a variety of industries on topics that matter. He is a 2009 graduate of the University of North Carolina School of the Arts.