Your qualifications for this service may vary based on certain factors. Examples include:
• If you live with your spouse
• How many dependents you have
• Where you live
As mentioned in the above table, you need to be below a certain income level & resource level to qualify. What is not mentioned is what resources are. Resources are…
• Money, stocks, bonds, mutual funds, and IRA’s. They are essentially passive income tools.
• These DO NOT include your home, your car, household items, burial plot, burial expenses (up to $1500/person), or life insurance policies.
When Can I Enroll Or Change Plans?
• If you newly get, lose, or have a change in your Extra Help (or Medicaid) status, you will be able to change your plan.
• If you already have Extra Help (or Medicaid) you’ll be able to switch once per period during one of the following periods: January-March, April-June, July-September.
Once you switch your new coverage will begin on the first day of the next month.
You automatically qualify if…
• You have full Medicaid coverage
• You get help from your state Medicaid program paying your Part B premiums (in a Medicare savings program)
• You get Supplemental Security Income (SSI) benefits
Need To Know Tips:
• You need to be enrolled in a Medicare Drug Plan to use this assistance.
• If you sign up or auto qualify Medicare may auto-enroll you into a plan. If so, you’ll be notified by letter & have a special enrollment.
• period so you have an opportunity to change plans.
• If you live in certain institutions (like a nursing home) you pay nothing for your prescription drugs.
• Visit Medicare.gov to learn more about your particular situation.