August 2, 2016

Are You Eligible for Subsidized Prescription Assistance?

Most states offer state-funded prescription programs that help eligible residents with the cost of prescription medications.

New Jersey offers Pharmaceutical Assistance to the Aged and Disabled Program (PAAD) and Senior Gold Prescription Program.  Income must be less than $26,575 (single) or $32,582 (married) for PAAD and between $26,575 and $36,575 (single) or between $32,582 and $42,582 (married) for Senior Gold.

Under PAAD, the prescription co-pay is $5 per PAAD-covered generic drug and $7 per PAAD-covered brand name drug and the program pays the monthly premium for certain Part D Plans.  Senior Gold provides help paying prescription copays based on retail drug price.

IMPORTANT – If you qualify, you can enroll at any time for PAAD – no need to wait until October’s Annual Open Enrollment Period.

To learn more, send me a note and I’ll provide additional details.  To be connected directly with the NJ Department or Human Services, call 1-800-792-9745 or visit www.njpaad.gov or www.njsrgold.gov.

If you are a Pennsylvania resident with annual income below $23,500 ($31,500 for married couple), you may qualify for some level of help from PACE/PACENET.  Investible assets and home value do not count when determining eligibility.  Similar to the NJ programs, PACE/PACENET works with your Part D plan to lower out-of-pocket costs by reducing copays, removing deductibles, and providing support for those entering the “donut hole”.

To learn more about PACE/PACENET, call 1-800-226-7223 or send me a note and I’ll send you additional details.

If you don’t live in NJ or PA, your state most likely has a similar program.