This Mother’s Day, you can show mom how to save an estimated $4,000 a year on her Medicare prescription drug costs. Here’s how:
If your mother is covered by Medicare and has limited income and resources, she may be eligible for extra help — available through Social Security — to pay part of her monthly premiums, annual deductibles, and prescription co-payments. The extra help is estimated to be worth about $4,000 per year.
To figure out whether your mother is eligible, Social Security needs to know her income and the value of her savings, investments and real estate (other than the home she lives in). To qualify for the extra help, she must be receiving Medicare and have:
Support other family members who live with them;
Have earnings from work; or Live in Alaska or Hawaii.
Resources limited to $13,070 for an individual or $26,120 for a married couple living together.
Resources include such things as bank accounts, stocks and bonds. We do not count her house or car as resources.
To learn more about the Medicare prescription drug plans and special enrollment periods, visit www.medicare.
gov or call 1-800-MEDICARE (1-800-633-4227; TTY 1-877-486-2048).
Mom will be grateful when you give her a useful gift this year: help her save an estimated $4,000 a year on Medicare prescription drugs. It won’t cost you anything more than a little bit of quality time with her — something you and mom both want anyway. These rules apply to dad as well, so plan ahead for your Father’s Day gift too.
The Tyler office is at 5509 S. Donnybrook.
Leo Rossler is a Social Security district manager based in Tyler.