The Extra Help Program from Social Security will now be available to more than 1 Million seniors who were previously not eligible. As of January 1, 2010, The Social Security administration will no longer count life insurance as an asset in calculating you eligibility for this valuable program. Also they will no longer count assistance from family members in calculating your income for the program. It is estimated that these changes will make 1 million more seniors eligible for this program nationwide. Income limits continue to be $16,245 for singles and $21,855 for married couples living together. Assets such as stocks, bonds and bank accounts must be limited to $12,510 for singles and $25,010 for married couples. The value of homes and automobiles are excluded.
Social Security Administrator Michael J. Asture has urged seniors who were rejected for the program in the past to reapply. This could save you as much as $4,000 in costs for you prescriptions on your Medicare Part D Program. If you feel you are qualified you can apply for the program online at www.socialsecurity.gov or by calling 1-800-772-1213. Seniors can also apply at their local Social Security office.
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