Understanding Extra Help: What You Need to Know
As healthcare costs continue to rise, it’s important to be aware of the programs available to assist with these expenses. The Extra Help program is designed to assist individuals who have limited income and resources in paying for their Medicare prescription drug costs. Understanding who qualifies for this assistance and how you can apply is crucial to managing your healthcare expenses effectively.
How to Apply for Extra Help in 2025
If you’re looking to apply for Extra Help in 2025, it’s important to start by gathering all necessary documentation related to your income and resources. This includes any social security benefits, pensions, or other sources of income. The application process is straightforward, and you can apply through your local Social Security office or online.
- Visit the Social Security Administration website to apply online.
- Call or visit your local Social Security office.
- Contact the Overton Agency at 501-881-2050 for assistance.
Do You Qualify for Extra Help?
To qualify for Extra Help, your income and resources must fall below certain limits. These limits can change each year. In 2025, it’s expected that the income and resource limits will see slight adjustments, so it’s important to stay informed. Generally, individuals with a low-income subsidy or those enrolled in both Medicare and Medicaid automatically qualify for this program.
Key factors that determine eligibility:
- Your income: Includes wages, social security benefits, and pensions.
- Your resources: Includes bank accounts, stocks, and bonds.
Understanding the Costs: What You May Pay
With the Extra Help program, you may see a reduction in your monthly premiums, deductibles, and co-payments associated with Medicare prescription drug coverage. The level of Extra Help you receive will determine how much you’ll pay out-of-pocket.
Key benefits of Extra Help include:
- Reduced or zero monthly premiums.
- Lowered cost-sharing requirements.
- No coverage gap or “donut hole” in your drug plan.
Additional Resources and Support
If you need help understanding your Medicare options or applying for Extra Help, there are resources available to assist you. The State Health Insurance Assistance Program (SHIP) provides free counseling and support. Additionally, the Medicare Savings Programs can also help pay for other Medicare costs.
If you need further assistance, contact the Overton Agency to help guide you through the process and ensure you’re getting all the benefits you’re eligible for.
We’re Here to Help
Don’t let the cost of prescription drugs become a burden. If you or a loved one are eligible for Extra Help, contact the Overton Agency today. Our team in Conway, Arkansas, is ready to assist you with your application process, answer any questions, and help you understand your Medicare options. Call us at 501-881-2050 to get started on securing the healthcare coverage you deserve.
