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Medicare "Extra Help" Drug Plan

Anyone who has Medicare can get Medicare Part D prescription drug coverage.

Some people with limited resources and income also may be able to get Extra Help
to pay for the costs—monthly premiums, annual deductibles, and prescription
co-payments—related to a Medicare prescription drug plan.

The Extra Help is estimated to be worth about $4,000 per
year.

To qualify for Extra Help:

  • Your resources (assets) must be limited to $13,300 for an individual or $26,580
    for a married couple living together. Resources include bank
    accounts, stocks and bonds, but not your home nor car.

  • Your annual income must be limited to $17,235 for an individual or $23,265 for
    a married couple living together.

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Recent Content

What Social Security May Look Like in 2035

Interesting article which looks at how Social Security may fare in the year 2035.

Highlights :

* The worker-to-beneficiary ratio will drop from 2018's 2.8 to 2.2-to-1.

* Workers will have to wait longer to receive "full" benefits

* Social Security's "trust fund" will be exhausted

* Substantial benefit cuts may be needed

* Payroll taxes will be critical to pay for benefits

* Social Security benefits will continue to decline due to inflation

Four Factors that Determine Your Social Security Retirement Benefit

Your Social Security retirement benefit largely depends on the following four factors :

* Your work history => Longer yields a higher benefit

* Your earnings history => Higher earnings yields higher benefit (at decreasing rate)

* Your birth year => Born earlier means higher relative benefit

* Your claiming age => Starting benefits later means higher benefit


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Not affiliated with the US Social Security Administration