When people enroll into a Medicare part D prescription drug plan, they don’t intend to ignore any premiums they owe to their insurance provider. There are some that enroll in the most affordable prescription drug plan they can find but they are unable to pay the premiums because of other financial obligations. There are some that are able to pay their premiums but unable to pay for their copays and coinsurance payments. When this happens, these beneficiaries are left looking for ways to get help.
There is help available for people that are not able to pay for their prescription drug plans. When people are looking to get help for their Medicare prescription drug plan, they don’t always know what is available to them federally or through the state they live in. One of the first things that people can do is call their Medicare part D prescription drug plan provider.
People that take the time to call their plan providers are often surprised to find that there is help available through different avenues. They are surprised to find there is a federal program they can apply for called the Low Income Subsidy Program through the Social Security Administration. They are also surprised to find that the state they live in may have SPAPs available. SPAP stands for state pharmaceutical assistance programs but unfortunately, not all states have them available.
Millions of Medicare beneficiaries qualify for prescription drug plans but don’t apply for the insurance because they don’t think they can afford it. They can’t afford the monthly premiums and they don’t think they can afford to pay the copays and coinsurance for their medicines. Many of these people don’t realize they may qualify for help from the federal government. Those that need help don’t realize they should call the Social Security Administration to apply for the Low Income Subsidy Program.
The Low Income Subsidy Program is a federally sponsored program that will help lower the cost of a Medicare part D prescription drug plan. This program is based on the Medicare beneficiary’s income. Those that qualify for the program can qualify for help and no longer have a premium to pay for their Medicare part D plan. The copayments they are afraid they can’t pay can be lowered tremendously as well.
When a person qualifies for the Low Income Subsidy the prices they pay at the pharmacy will be dramatically lowered. As soon as a person qualifies for and is approved for the program, the Social Security Administration contacts that insurance provider to alter the copayments and coinsurance obligations for that person. Those that have been approved for the program but don’t see the benefits should contact their provider immediately so that they can begin paying a lowered amount. Those that are approved for the program will also see a lowered premium responsibility as well.
There are some states that are able to offer their residents private help. They have sponsored programs called State Pharmaceutical Assistance Programs or SPAPs. Not all states have these programs but those that do are able to help many people.
The states that offer SPAPs often have specific qualifications that have to be followed so that a resident can get help. These qualifications vary by the state but once they have been satisfied, the benefits will alter the responsibility of the Medicare beneficiary. Some of the Medicare beneficiaries will not have to pay a premium for their prescription drug plan or there are some that will be able to pay a lowered amount for their prescriptions when they go to the pharmacy.
Most Medicare part D beneficiaries don’t realize that their state participates in these programs. To find if these states do participate, people should contact their state health information program. These programs will tell each individual the programs that are available in their state to help them pay for their prescription drug plans.
The cost of a Medicare part D prescription drug plan can be expensive for some. These plans are necessary for those that are prescribed medications. Those that have a hard time paying for their prescriptions and the premiums for the Medicare prescription drug plans should look for help. There are programs available that can make a huge difference in the financial impact of a Medicare prescription drug plan.