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A
handsome gift for dad
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[November 05, 2011]
Father’s Day is
right around the corner. Perhaps you’ll give Dad the usual gift: a
necktie, shaving set, leather wallet, or new fishing lure. But
there’s something he may appreciate even more. People all over the
country are helping their dads save nearly $4,000 a year on the cost
of prescription drugs. You can help your dad too — and it won’t cost
you a dime.
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The high cost of prescription medication can be a burden on fathers
(or anyone) who have limited income and resources. But there is
Extra Help — available through Social Security — that
could pay part of his monthly premiums, annual deductibles, and
prescription co-payments. That Extra Help is worth an average
of almost $4,000 a year. To figure out whether your father is
eligible, Social Security needs to know his income and the value of
his savings, investments, and real estate (other than the home he
lives in). To qualify for the Extra Help, he must be enrolled
in Medicare and have:
- Annual income limited to $16,335 for an
individual or $22,065 for a married couple living together. Even
if his income is higher, he still may be able to get some help
with monthly premiums, annual deductibles, and prescription
co-payments. Some examples where income may be higher include if
he or his spouse:
—Support other family members who live with them;
—Have earnings from work; or
—Live in Alaska or Hawaii; and
- Resources limited to $12,640 for an
individual or $25,260 for a married couple living together.
Resources include such things as bank accounts, stocks, and
bonds. We do not count his house and car as resources.
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Social Security has an easy-to-use online application that you can
help complete for your dad. You can find it at
www.socialsecurity.gov. Just select the link on the left of the
page that says, “Get extra help with Medicare prescription drug
costs.” To apply by phone or have an application mailed to you, call
Social Security at 1-800-772-1213 (TTY 1-800-325-0778) 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; TTY
1-877-486-2048).
Of course, the Extra Help is not just for fathers. Anyone
who is entitled to Medicare and has limited income and resources may
be eligible.
By Judith Bartels
Social Security District Manager in Springfield, IL
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