Medicare Drug Plan Costs if You Apply and Qualify for Extra Help
| If You Have Medicare and |
Your Monthly Premium* |
Your Yearly Deductible |
Your Cost Per Prescription at the Pharmacy (until $4,050**) |
Your Cost Per Prescription at the Pharmacy (after $4,050**) |
| a yearly income below $14,040-single $18,900-married with resources of no more than $7,790-single $12,440-married |
$0 | $0 | Generic and certain preferred drugs: no more than $2.25 Brand-name drugs no more than $5.60 |
$0 |
| a yearly income below $14,040-single $18,900-married with resources between $7,790 and $11,990-single $12,440 and $23,970-married |
$0 | $56 | up to 15% of the cost of each prescription | Generic and certain preferred drugs: no more than $2.25 Brand-name drugs no more than $5.60 |
| a yearly income between $14,040 and $14,560-single $18,900 and $19,600-married with resources up to $11,990-single $23,970-married |
25% | $56 | up to 15% of the cost of each prescription | Generic and certain preferred drugs: no more than $2.25 Brand-name drugs no more than $5.60 |
| a yearly income between $14,560 and $15,080-single $19,600 and $20,300-married with resources up to $11,990-single $23,970-married |
50% | $56 | up to 15% of the cost of each prescription | Generic and certain preferred drugs: no more than $2.25 Brand-name drugs no more than $5.60 |
| a yearly income between $15,080 and $15,600-single $20,300 and $21,000-married with resources up to $11,990-single $23,970-married |
75% | $56 | up to 15% of the cost of each prescription | Generic and certain preferred drugs: no more than $2.25 Brand-name drugs no more than $5.60 |
Notes:
*There are plans you can join and pay no premium. There are other plans where you will have to pay part of the premium even when you automatically qualify for extra help. Tell your plan you qualify for extra help and ask how much you will pay for your monthly premium.
**Your cost per prescription generally decreases once the amount you pay and Medicare pays as the extra help reach $4,050 per year.
The income levels and resources just described are for 2008 and can increase each year. If you live in Alaska or Hawaii, or you or your spouse pay at least half of the living expenses of dependent family members who live with you, or you work, income limits are higher. Costs described are for 2008 and can change each year.
(Primary Source: Centers for Medicare and Medicaid Services - Your Guide to Medicare Prescription Drug Coverage 2008. This content may have been enhanced by this site to include further examples, explanations, and links.)