Parent Talk / May 2007
Moms and Medicare
Between technology and bureaucracy, older women often find themselves overwhelmed. The paperwork and confusion surrounding Medicare and prescription drugs is baffling and bewildering even to many professionals. For women who may have limited financial experience or resources, it may help to know that they can get assistance with their Medicare prescription drug costs.
Extra help-available through Social Security-can pay part of the monthly premiums, annual deductibles and prescription co-payments. The extra help could be worth an average of $3,700 per year.
To figure out if Mom, or any loved senior, is eligible, Social Security needs to know their income and the value of their savings, investments and real estate other than the home they live in.
According to the Social Security Administration public affairs specialist, to qualify for the extra help, the individual must be receiving Medicare and have in 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 help with monthly premiums, annual deductibles and prescription co-payments may be available. Income may be higher if they or their spouse support other family members who live with them or have earnings from work. Financial resources, like bank accounts, stocks and bonds, are limited to $11,710 for an individual or $23,410 for a married couple living together. The house and car are not counted as resources.
Social Security has an online application that family members, friends or caregivers, can complete, www.socialsecurity.gov. To apply by phone or get an application, call Social Security at 1-800-772-1213 and ask for the Application for Help with Medicare Prescription Drug Plan Costs, SSA-1020, or go to the nearest Social Security office.
To learn more about the Medicare prescription drug plans and special enrollment periods, visit www.medicare.gov or call 1-800-MEDICARE (1-800-633-4227).
For this Mother’s Day it may be possible to give Mom, or a well regarded friend, something that isn’t fattening, scented or sudsy, something that won’t be tossed, stored or re-gifted-extra help with their Medicare prescription drug costs. Take the extra step and help her apply. It’s a very practical way to say “I love you”.
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