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On its official website, the Social Security Administration (SSA) explains what documents people who wish to apply for Extra Help to pay Medicare prescription drug costs must gather.
This procedure is done additionally, since Original Medicare , made up of Parts A and B, generally does not include prescription drug coverage. To access this benefit, enrollees can sign up for a Part D plan or choose certain Medicare Advantage plans that include drug coverage.
These are the documents needed to apply for Medicare Part D Extra Help
According to the SSA, people who have Medicare can apply for Extra Help, a program aimed at reducing the costs of prescription drug coverage.
To apply, the agency recommends gathering financial information from both the applicant and their spouse, if applicable. Among the documents mentioned are
- Bank statements and tax returns.
- Individual Retirement Account (IRA) or 401(k) account balances.
- Statements or proof corresponding to:
- Pensions
- Veteran benefits
- Annuities
- Railroad Retirement Board benefits
These documents make it possible to prove the income and financial resources that may be considered when determining whether a person meets the requirements to receive Extra Help.
How does Medicare work and what is Part D?
Original Medicare is made up of Part A, which corresponds to hospital insurance, and Part B, which covers medical services and outpatient care.
Among other services, these parts may cover hospital stays, doctor visits, diagnostic tests, and certain preventive services.
Medicare also clarifies that beneficiaries pay certain costs as they receive services and that they must be lawfully present in the United States for the program to cover the services corresponding to Parts A and B.
However, Original Medicare does not cover most prescription drugs that a person buys to take at home. For this type of expense there is Part D, specifically intended to help pay for brand-name and generic prescription drugs.
Part D is obtained through private companies approved by Medicare. The program recommends considering enrollment even if the person is not currently taking prescription drugs, since signing up outside the corresponding period may result in a late enrollment penalty.
Another option is Medicare Part C, also known as Medicare Advantage, which allows people to receive Medicare benefits through private plans approved by the program. These plans include coverage for Parts A and B and, in many cases, also include prescription drug coverage and additional benefits.