More Medicare beneficiaries will soon qualify for help paying for their prescription drugs. People on Medicare may be eligible to pay no more than $2.50 for generic drugs and $6.30 for each brand name drug thanks to changes to Medicare’s Low-Income Subsidy Program (also called “Extra Help”) that take effect this year. Changes in the law will make it easier for Medicare beneficiaries to qualify for “Extra Help” by changing the way income and assets are counted in 2010. The Social Security Administration will no longer count life insurance policies as a resource. Also, help received from family and friends to pay for household expenses like food, mortgage, rent and utilities will no longer count as income.
For more information visit this link: http://www.disability.gov/health/health_insurance/prescription_drugs.