What to Know About Social Security Letters Offering Aid With Medicare Payments

Letters in May and June that appear to be from the Social Security Administration stating they could assist recipients in paying Medicare costs are legitimate, reports the National Council on Aging . The letters go to beneficiaries who may qualify for two money-saving programs that can help them cover prescriptions and healthcare costs. The Medicare Part D Extra Help program helps beneficiaries pay their Part D drug plan premium and saves money on medications at the pharmacy. People who qualify will pay no more than $8.35 for prescriptions for each drug their plan covers. Meanwhile, the Medicare Savings Program (MSP) pays the Part B premium each month, and also may help cover other Medicare costs such as the Part B deductible and co-pays at the doctor's office. Receiving this letter does not mean recipients automatically qualify for these programs, as they still need to fill out an application for each program. Beneficiaries who apply for Extra Help or MSP will receive requests for more information about their overall finances.