If you have limited assets and income, then you might qualify for help in covering medical costs. This will be the care you receive under Medicare.
If you are looking to get some help, then here are some programs that can help financially assist you.
● Medicaid is set in place to help individual cover medical costs and can help cover Medicare Part A and B. In addition, it includes a number of added benefits that are not covered under the Original Medicare. For instance, prescription drugs, long-term care, or eye care.
● There is a program called the Medicare savings program, and it can help you pay premiums, coinsurance, and deductibles for the Original Medicare parts.
● PACE (Program of All-Inclusive Care for the Elderly) is a program that offers a combination of social, medical, and long-term care. These services are for people above 55, who have to qualify the PACE program. However, this program is not being offered in all states.
● There is an Extra Help helps, that helps in paying for the entire Medicare Part D deductibles, premiums, copayments, and coinsurance. However, you have to be qualified before you start receiving help.
● Apart from these, there are a number of programs available in your state that might be able to help you pay for Medicare. For instance, the State Pharmaceutical Assistance Program.
Keep in mind that your qualification for the program will be determined by the financial assistance program. Each program is different and might ask you to offer various documents through the process. They will ask for things such as your assets reports, monthly income, retirement benefits or other income you might get. This basically covers all that you report on your taxes. So keep in mind your home, and other assets will be considered as well. And if the program feels that you have enough assets, and income to cover your Medicare plan then they will reject your application.
Last year the income eligibility rate was $17’665 a year for a single man or woman and $23’895 for a couple. Keep in mind that these numbers might vary by state, as each state has a different program set in place to help you pay your Medicare plans. These programs might be offered by the government or a non-profit organization. So you should search up the programs that are being offered in your state, and apply for the one you feel will fit your needs the best.