Seniors typically spend $450 to $900+ per year out-of-pocket on prescription medications. Drug costs, in combination with healthcare expenses, are one of the biggest financial burdens facing older Americans. Even with Medicare coverage, many seniors find themselves paying hundreds or even thousands of dollars each year for medications they need to stay healthy.
What many people do not realize is that a federal program called Medicare Extra Help continues to provide significant assistance with prescription costs, and recent eligibility expansions mean thousands more seniors may now qualify. The challenge is that many eligible beneficiaries either do not know the program exists or mistakenly assume they earn too much to qualify. Here is what you need to know about the program and how to apply.
