If you think you are anywhere remotely near close to qualifying for a Part D low income subsidy based on your current level of compensation, you should definitely apply for it. The application course of action for applying for this program is separate from applying for Part D coverage. As a low income subsidy applicant, there is no commitment to join any particular Medicare Part D Plan. If you are accepted for a low income subsidy, your Part D Plan premium will be considerably less expensive in spite of of which plan you choose.
Who Can Qualify?
There are four categories of people who qualify for a low income subsidy to help pay cost associated with a Part D prescription drug plan.
The categories are defined by the beneficiary’s income in relation to The Federal Poverty Guideline. The amount of Part D low income subsidy a beneficiary receives varies within each category.
(1) This category includes individuals eligible for Medicaid who has a level of income under the Federal Poverty Guideline. Qualified individuals within this category do not pay premium or deductibles, have no gap in coverage, and also have reduced per prescription copayments.
(2) This category includes individuals eligible for eligible for Medicaid but with income levels above The Federal Poverty Guideline. Qualified individuals within this category pay no premium or deductibles and have no coverage gaps, however pay a higher per prescription copayment than other Medicaid recipients.
(3) This category includes individuals not eligible for Medicaid but with incomes less than 135% of The Federal Poverty Guideline and assets of less than $8,000.00 or $16,000.00 for a married associate living together excluding the dominant residence. Qualified individuals within this category pay no premium or deductibles, have no gap in coverage, and also have reduced per prescription copayments.
(4) This category includes individuals with incomes of 135% to 149% of The Federal Poverty Guideline and assets of less than $11,990.00 or $23,970.00 for a married associate. Qualified individuals pay a reduced premium and deductibles in addition as having reduced pre prescription copayments.
We Can Help.
It is vitally important that you gain a thorough working knowledge and understanding of what entitlements might be obtainable for individuals requiring federally regulated assistance. Not comprehending may be the difference of having or not having medically needed preventative sets which are basic to well being and overall livelihood. If you would like more information on such programs, please visit our website at http://www.health-insurance-buyer.com and leave your contact info. One of our licensed agents will contact you at your convenience to help explain any additional entitlements you might qualify for.