Depending on your income and assets you may qualify for full or partial help.
In terms of benefits, the Extra Help program:
- Reduces your premium up to a state-specific benchmark amount based on income (this means at full assistance, Part D plans with premiums below the benchmark amount can have $0 premiums).
- Can help lower your out-of-pocket spending on drugs by ensuring you pay either the Extra Help copayment amount or your plan’s copay (whichever is cheaper).
- Generally pays the full cost of drugs during your plan’s catastrophic coverage phase.
- Gives you one Special Enrollment Period a year you can use to switch Part D plans.
- Eliminates the Part D late enrollment penalty.
- Find your level of Extra Help. Medicare.Gov.
- Extra Help basics. MedicareInteractive.com.