Prescription Benefit Assistance Application
From The Boston Globe:
Many seniors are quite surprised at the amount of financial information required to seek assistance paying for the new prescription drug benefit going into effect in 2006.
‘We are running into a lot of people out in the community, at senior centers, who are confused,” said Sue Kirby, interim executive director of the Massachusetts Senior Action Council, a statewide advocacy group. ”Our fear is that the application process will discourage a lot of people, particularly those who are most in need of financial assistance, from even bothering to apply for the subsidy.”
A sample of this form from the Social Security Administration can be found here.
This form asks for specific dollar amounts regarding the applicants’ holdings / income including: bank accounts, stocks, bonds, savings bonds, IRAs, cash, life insurance, pensions, annuities, rental income, workers’ compensation benefits, and more. Fortunately, this application is not mandatory for enrollment in a Medicare Prescription Benefit Program. It is only for those who believe they may qualify for federal subsidy of premiums and copays.
I will try to post more on this topic, along with clear overviews of who qualifies for subsidies, and what type of subsidy to expect, as information becomes available.