Premiums for "Extra Help" Beneficiaries
If you have qualified for the Medicare Part D Assistance Program or “Extra Help” you should not be paying a premium. If you have been on a plan for 2007 and the premium goes up in 2008 over the Medicare baseline for “Extra Help” premium amounts, they will automatically cancel your plan for 2008. Medicare will arbitrarily re-assign a new plan for you that will be below the baseline cost. However, they do not check to see if your medications are covered on the plan they select for you.
Many of the plans that will cover your drugs may have a premium higher than the baseline cost. That is why you need a comparison. You must find a plan that will cover every one of your prescriptions, yet make sure you do not have to pay any premium. If you select one that costs more than the baseline, you will have to pay any overage that occurs.
For example, if the Medicare baseline for premium is $30.61 in your state and you choose a drug plan with a premium of $45, you will incur the overage of $14.39 and this amount will be taken our of your social security check to pay for it. Since there are many plans that will cover your meds and cost you a $0 premium there is no need to take on this additional burden. WE can help you make sure you are getting on the right plan to save you the most money.
That is why it is very important to get a comparison, even if you have qualified for low-income subsidies, to make sure YOU CHOOSE A PLAN THAT COVERS YOUR MEDICATIONS WITH NO PREMIUM DUE!
If you feel as though you may qualify for “extra help”, we can send your application to Social Security for you, online, and select a drug plan that meets the requirements for baseline costs. Please refer to the blog entry about qualifications for the Medicare Part D Drug Assistance Program.
You can reach us toll free at 866-752-1795. If you are a senior advocate, case worker, or just trying to help a friend or family memeber, we can assist you as well.
