Help Your Father with Prescription Drug Costs on Father's Day
If your father is on Medicare, perhaps the best gift you can give him this Father's Day is to help him save money on prescription drugs, U.S. Rep. Wayne T. Gilchrest (R-Maryland-1st) said.
Social Security and the Centers for Medicare & Medicaid Services are working together to get Medicare beneficiaries extra help with their prescription drug costs, and family members can help. They have developed a worksheet that will help Social Security determine if a loved one qualifies for extra help paying for Medicare's prescription drug program.
"Helping our parents find the right Medicare prescription drug plan, and seeing if they quality for extra help can be very rewarding for both of you," Gilchrest said. "This program has helped a lot of seniors with their drug costs, and still more can be helped with the proper information."
To qualify for extra help, seniors must have annual income limited to $15,315 for an individual or $20,535 for a married couple living together. Even if their annual income is higher, some seniors may be able to get some help with monthly premiums, annual deductibles and prescription co-payments. Some examples where income may be higher include if they or their spouse support other family members who live with them, or have earnings from work.
They must also have resources limited to $11,710 for an individual or $23,410 for a married couple living together. Resources include such things as bank accounts, stocks and bonds. They do not count an automobile or a house as a resource.
To help your father learn more, you can go online at www.socialsecurity.gov or call Social Security at 1-800-772-1213 and ask for the Application for Help with Medicare Prescription Drug Plan Costs. To learn more about Medicare prescription drug plans and special enrollment periods, call 1-800-Medicare or visit www.medicare.gov