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Medicare Savings Programs and Help With Prescription Costs

Are you 65 or Over and Have High Prescription costs?

Your Ship Has Come In!

According to New Jersey Healthcare Foundation the average Social Security Benefit for New Jersey seniors is $14,285 annually per individual. The average for a woman is even lower at $12,741!  Currently 1 out of 3 seniors have trouble making ends meet. Seniors need all the financial help that they can get, especially in light of the cost of living including high prescription costs.The following are a few programs available to low income Medicare recipients:

  • Pharmaceutical Assistance to the Aged & Disabled (PAAD) is a NJ state program that provides prescription assistance for qualified low-income individuals 65 years of age or older or 18 years of age or older and receiving Social Security Title II Disability benefits.PAAD pays Medicare Part D premium, deductibles and copays.Members pay $5 for generic drugs and $7 for brand names.The income limits are less than $24,431 if single or less than $29,955 if married.The program has no asset test.

  • Extra Help though Social Security provides extra help to qualified low-income Medicare beneficiaries in paying their Part D drug plan’s monthly premium, annual deductible, coinsurance and/or co-pays. Benefit levels vary by income.To be eligible, an individual must have an annual income of less than $16,335 and resources less than $12,640. The income and asset limits for married couples are $22,065 and $25,260, respectively. 

In Addition, You May Qualify for Medicare Part B Premium Assistance


  • Medicare Savings Programs pay Medicare Part B premiums for individuals with an income $10,890 up to $14,702 for individuals and at $14,702 up to $19,859 for married couples. Asset limits are $8180 for individuals and $13,020 for couples. A beneficiary’s primary residence and vehicle, if used for medical appointments or for work, are not counted as assets. The Part B premium normally ranges from $96.40 to $115.40 per month and is usually taken directly out of a person’s Social Security check.

Click here for the full brochure in English, and click here for the Spanish version.


For more information or to see if you might qualify contact SHIP of Union County (908) 273-6999. SHIP offers free, objective confidential help to Medicare beneficiaries who need assistance or have questions about their health insurance.


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