Surely you’ve been bombarded by ads – TV and radio commercials, mail, telemarketers, email, and online ads about how you could get $148.50 per month (or in some cases $1782 per year which is actually the exact same amount). You’ve wondered whether it’s even true and, if so, whether or not you could qualify. No one wants to miss out on something like that, but no one really loves calling a stranger to find out either. With the growing number of scams and fraud out there it can be frightening to call some unknown number.
“There must be a safe and easy way to find out what this is all about,” you say.
Now there is!
No need to call or give anyone your personal information, subject yourself to high pressure sales, or leave the comfort of your own home. Simply read the questions and answers below and learn the truth.
Q: Can I really get $148.50 per month back on my check?
A: Yes, perhaps.
Medicare beneficiaries with low income may be eligible for assistance through their state’s Medicaid program. This type of assistance (known as Medicare Savings Programs) is available in every sate. There are several different levels of assistance included. Most levels will cover your part B premium, thus increasing your SS check by the $148.50 per month (the amount SS has been deducting monthly for that premium). Depending upon your level of qualification, these programs may also help with your medical copays, deductibles, coinsurance, and other items covered by Medicare. Pretty sweet, huh?!
Q: How do I know if I should apply?
If your income as an individual doesn’t exceed $1469 per month (or $1980 for a couple), you might be eligible for one of these Medicare Savings Programs. There are other eligibility requirements as well (such as resource limits including cash, savings, stocks, bonds, etc.), but if your income is below the maximum limit then you might want to consider applying. As they say, “It never hurts to ask.”
Q: How do I apply?
A: Most states have online application processes available so if you are comfortable with that, it might be the easiest, most convenient way to apply. You can also apply through your State’s Medicaid Program. Due to COVID some offices aren’t operating as usual and may require you to schedule an appointment, or they may even take your application over the phone. Just give yours a call and ask what you need to do.
Q: When can I do this? Do I have to do it at a certain time of year?
A: You can apply for this at anytime during the year. There is no enrollment period for applying for assistance.
Q: How long does it take to get approved?
A: There’s no way to answer this definitively because every office is different, but you should hear something back within 60 days, give or take.
Q: What about all the dental, over the counter items, food cards, transportation, vision and hearing benefits I’m hearing about? Will I get these things if I qualify for one of the Medicare Savings Programs?
A: Not exactly.
The additional benefits you’re hearing about are benefits included in some Medicare Advantage Plans. These plans typically include extra benefits and some include more than others. You don’t have to have a Medicare Savings Program in order to sign up for a Medicare Advantage Plan, so if you’re on Medicare, live in the plan’s service area, and have Medicare Parts A & B, then you can sign up for a plan and enjoy the value added benefits included (many even have a $0 premium). However, if you are approved for a Medicare Savings Program, you may be entitled to join a special kind of Medicare Advantage Plan known as a Dual Eligible Special Needs Plan (DE-SNP). These are plans specifically designed for people receiving assistance and include much richer extra benefits (higher amounts of dental/vision/hearing coverage, more transportation, more free over-the-counter benefits, healthy food cards, etc.), as well as lower medical copays. These plans vary from county to county and state to state, so you’ll need to speak with a licensed independent agent in order to learn which plans are available to you, which ones work the best with your particular prescriptions and doctors, and which ones will give you the richest extra benefits.
BONUS TIP:
If you apply and are approved for extra assistance, you automatically have a Special Enrollment Period. This allows you an opportunity to look into the Medicare Advantage D-SNPs available to you and enroll in one if you’d like. Also, as long as you’re receiving assistance you are entitled to make plan changes every quarter.
If you still have questions or would like help with the process of applying for assistance, please call 706-550-5817.