Help mom save $4,000 a year
By Judith
Bartels,
Social Security district manager in Springfield
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[May 12, 2012]
SPRINGFIELD -- Given the current economic climate, buying a nice gift for
Mother's Day may be more difficult than in years past. But people
across the nation are discovering that the best gifts are often
free.
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This Mother's Day, you can show mom how to save an estimated
$4,000 a year on her Medicare prescription drug costs. Here's how.
If your mother is covered by Medicare and has limited income
and resources, she may be eligible for Extra Help -- available
through Social Security -- to pay part of her monthly premiums,
annual deductibles and prescription co-payments. The Extra Help is
estimated to be worth about $4,000 per year.
To figure out whether your mother is eligible, Social Security
needs to know her income and the value of her savings, investments
and real estate (other than the home she lives in). To qualify for
the extra help, she must be receiving Medicare and have:
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Income limited to $16,755 for an individual or $22,695 for a
married couple living together. Even if her annual income is higher,
she 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 she and, if married, her husband:
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Resources limited to $13,070 for an individual or $26,120 for
a married couple living together. Resources include bank accounts,
stocks and bonds. Social Security does not count a house or car as
resources.
Social Security has an easy-to-use online application that
you can help complete for your mom. You can find it at
www.socialsecurity.gov/prescriptionhelp.
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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).
Mom will be grateful when you give her a useful gift this
year: Help her save an estimated $4,000 a year on Medicare
prescription drugs. It won't cost you anything more than a little
bit of quality time with her -- something you and mom both want
anyway. These rules apply to dad as well, so plan ahead for your
Father's Day gift, too.
[By JUDITH BARTELS, Social Security
district manager in Springfield]
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