I'm on a Medicare Part D Plan and Receive a Part D low-income Subsidy. I Received a Letter from the Social Security Administration that I no longer qualify for the subsidy. Can I switch to a lower cost Part D plan?

Yes, you qualify for a Special Election Period which begins the month you were notified of the loss and continues for two more months. This SEP allows you one opportunity to enroll into another PDP or an MA-PD Plan.

Financial Concerns?

“Extra Help” is a Medicare program to help people with limited income and resources pay Medicare drug coverage (Part D) costs. Some people qualify automatically for Extra Help, while others need to apply.

The Extra Help program can help pay these Medicare drug costs:

• Premium: A monthly amount you pay for coverage, whether you get services or not

• Deductible: An amount you have to pay for covered services and items each year before Medicare or your plan starts to pay

• Coinsurance: A percentage of the cost that you pay If you get Extra Help in 2024, you’ll pay:

• $0 for your Medicare drug plan premium and deductible

• Up to $4.50 for each generic drug

• Up to $11.20 for each brand-name drug

• $0 for each covered drug once your total out-of-pocket drug costs (including certain payments made on your behalf, like through the Extra Help program) reach $8,000 You won’t have to pay a Part D late enrollment penalty (if you have one) while you get Extra Help.