| ■ More Seniors Qualify for Prescription Drug Help | 2010.01.08 |
| As of Jan. 1, a change in rules made it possible for more than one million low-income elderly Americans to newly qualify for improved prescription drug benefits under the low-income subsidy (extra help) program. The new law benefits seniors with life insurance polices and those who regularly receive money from relatives to help cover household expenses, but previously couldn't get more generous drug benefits because they had too much income or too many assets, the Associated Press reported. To qualify, seniors' incomes must be no more than $16,245 a year for singles and $21,855 for married couples living together. The limit on assets such as bank accounts, stocks and bonds is $12,510 for singles and $25,010 for married couples. Home and automobile values aren't considered. Extra help benefits are determined by income. For many seniors, the program frees them of premiums and annual deductibles. Copays can be as low as $1.10 for generic drugs and $3.30 for brand names. |