Part D Extra Help is a federal program designed to help pay for costs associated with prescription drug coverage. This program may reduce your Medicare Part D prescription drug copayments and eliminate or reduce your Part D premiums and deductibles. Depending on your income, you might qualify for help with all or part of your prescription drug costs.
Extra Help Benefits
Some of the benefits offered by Part D Extra Help Program include:
- Pays for your Medicare Part D premium
- Reduce the cost of your Medicare prescription drugs
- Offers a quarterly Special Enrollment Period (SEP) during the first nine months of the year to sign up or switch Part D plans. With this period, you don’t have to wait for the Annual Open Enrollment Period to change plans. Any changes you make outside the AOEP will be valid for the following month. This can be beneficial if you have a disability and need to start medications that are not on your current approved drug list.
- Removes any Medicare Part D late enrollment penalty you may have been subjected if you delayed enrollment.
Who qualifies for Part D Extra Help?
Some people get enrolled in the Part D Extra Help program automatically. Those that automatically qualify for Part D Extra Help include the people who are signed up for both Medicare and Medicaid programs (which is usually known as dual eligibility), those who qualify for a Medicare Savings Program (MSP), and the people receiving Supplemental Security Income (SSI).
If you qualify for any of these, you don’t need to apply for the Part D Extra Help program, though you may still need to speak with a Medicare expert such as Generations Insurance to determine the best option to suit your situation.
Applying for Part D Extra Help Program
Applying for Part D Extra Help Program is different from signing up for a Medicare Part D plan. Applying for Part D Extra Help Program doesn’t commit you to sign up for the Part D plan. If you are approved for the Part D Extra Help Program, your Medicare Part D plan premium will be less expensive no matter the plan you select. To apply for the program, you need to send an application to SSA rather than Medicare.
For more information on the Part D Extra Help Program, contact Generations Insurance. Our experienced Medicare experts are here to help.