 Low-income beneficiaries can save close to $5,000 a year.
Save at least $1,000 with a Medicare Savings Program (MSP)
Most seniors and individuals with disabilities on Medicare pay between $96.40 and $115.40 each month directly out of their Social Security check for their Part B premium.
If your annual income is less than $14,702 (if single) and $19,859 (if married), and your assets, not including your home and car, total less than $6,680 for a single person or $10,020 for a couple, you can get the State of New Jersey to pay your Part B premium and save at least $1,000 each year on healthcare expenses. Lower income individuals may save even more.
To apply for a Medicare Savings Program, contact one of the agencies listed below.
Save an average of $3,900 with a Low Income Subsidy (LIS)
The average monthly premium for a Medicare Part D prescription drug plan is $35.74. In addition, each time a senior and individual with disabilities on Medicare goes to the pharmacy, they must pay their co-pay and, in the donut hole, at least half the cost of their medication.
If your annual income is less than $16,335 for a single person or $22,065 for a couple, and your assets, not including your home and car, total less than $12,640 for a single person or $25,260 for a couple, you can get the State of New Jersey to pay your Part D premium, lower your co-pay amount and pay only that reduced co-pay amount throughout the year (i.e., you have no donut hole). People on LIS also pay no late enrollment penalty. The average person on LIS saves $3,900 each year in prescription costs.
To apply for a Low Income Subsidy, contact agency in your county
Atlantic, Burlington, Camden, Essex, Hudson, Mercer, Monmouth, Ocean, Salem & Union
Community Health Law Project, South Orange
973-275-1175
Burlington
Burlington County’s Retired and Senior Volunteer Program (RSVP), Pemberton
609-894-9311,
ext. 1051
Cumberland
Cumberland County Office on Aging and Disabled
856-453-2220/2221
Gloucester
Senior Corps of Gloucester County, Sewell
856-468-1742
Hunterdon, Morris, Sussex & Warren
Zufall Health Center
973-328-3344, ext. 341
Mercer
Family Guidance Center
609-924-2098, ext. 11
Monmouth
Family and Children’s Service, Inc., Long Branch
732-728-1331
Ocean
Community Services Inc. of Ocean County, Lakewood
732-523-7123
Salem
Salem County Office on Aging, Salem
856-339-8622
Union
SAGE Eldercare, Summit
908-273-6999
Individuals residing outside the grant coverage areas (Bergen, Cape May, Middlesex, Passaic and Somerset Counties) should call the New Jersey Division of Aging and Community Services at 1-800-792-8820 for information and referral services.
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