Qualifications for Medicare Part D Subsidies
October 26th 2005
Those that have Medicare - (Note: You
must have both Part A and B of Medicare to qualify for the "Advantage" plan –
Whether or not you qualify for a subsidy), and are of 135% of the FPL
(Federal Poverty Level) –
Income of less than $12,920 per individual or $17,321 per married
couple. Assets of less than $7,500 per individual and less than $12,000
per married couple will qualify for a subsidy. The COST And Premium will
be ZERO – You will pay $2.00 per generic and $5.00 brand name
prescription drugs. Again, NO GAP IN COVERAGE.
The next 2 subsidies can be tricky – BUT – just follow closely – I will
break the subsidy qualification as clearly as I can: Read and reread
# 1 -: If your Income is less than $12,290 per individual and less than
$17,321 per married couple. Take a breather – because this income
allotment is the same as the above – But take Note of the Asset change.
Assets: more than $7,500 - BUT less than $11,500 per individual and
assets of more than $12,000 per individual and less than $23,000 per
married couple, you qualify.
Cost and benefits: No premium – an annual deductible of $50.00 and then
the next amount of your cost should average of 15% for each prescription
– NO GAP IN COVERAGE – after your prescriptions exceed $5,100 you will
pay $2.00 per generic and $5.00 for brand name prescriptions.
# 2 -: Income – At or above $12,290 per individual and
less than $14,355, for a married couple - At or above $17,321 and less
than $19,245. Assets – less than $11,500 or less than $$23,000 per
Benefits: This qualified plan will also have a $50.00 deductible and
then the next amount of your cost should average of 15% for each
prescription – NO GAP IN COVERAGE – after your prescriptions exceed
$5,100 you will pay $2.00 per generic and $5.00 for brand name
COST - of this plan is somewhat different, and is totally dependent is
your personal FPL.
# A - Between 136% and 139% of FPL - CMS will pay 75% of your premium.
# B - Between 141% and 144% of FPL - CMS will pay 50% of your premium.
# C - Between 146% and 149% of FPL – CMS will pay 25% of your premium.
EXAMPLE: If your qualified base or standard plan, cost will be $20.00
per month – A. will pay $15.00 – B. will pay $10.00 – C. will pay $5.00
of your monthly premium.
By Dan Rohan
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Keywords and misspellings: Medicare Medecare
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