Finding Medicare Assistance
For many people, enrolling in Original Medicare (Parts A and B) is really only the beginning of the experience. Often, people find they need more coverage than what comes with it, and more to the point, they may not be able to afford all the coverage they need, especially when prescription costs and other issues come to the forefront. It's important to know that regardless of your situation, there is help available for you, whether it's an advisor to give you the information you need to make your best healthcare decisions, or additional financial aid through Medicare assistance programs.
NJ PAAD and Senior Gold
NJ PAAD and Senior Gold are both prominently discussed when people in New Jersey look for Medicare assistance programs that focus on prescription drug costs. Medicare Part D is an insurance policy you obtain through private insurance companies in addition to your regular Medicare, and each of these programs help to alleviate costs from that. Other than the need to enroll in a Medicare Part D policy, they both have specific benefits and qualification requirements.
NJ PAAD helps to pay the cost of premiums and for medically necessary prescription drugs with a simple, low copay of $5 for generic drugs and $7 for name-brand, covering all costs above that, provided the drugs are approved by their Medicare Part D plan. If they are not, the patient must switch to an approved medication, or their physician must request an exception based on medical need.
To qualify, recipients must:
- Be a New Jersey resident that is 65 or older, or 18 or older receiving Social Security Title II Disability benefits.
- Have an income (in 2020) that's less than $28,399 if single or less than $34,817 if married.
Senior Gold is a similar program that targets the income bracket just above NJ PAAD. You're doing better in terms of income, but may still need some assistance. In this program, you pay your monthly premium, plus a standard $15 copay for your medication, plus 50 percent of the remaining cost, until you reach a yearly out-of-pocket expense of $2,000 if single and $3,000 if married, and then it is just $15.
To qualify, recipients must:
- Be a New Jersey resident that is 65 or older, or 18 or older receiving Social Security Title II Disability benefits.
- Have an income (in 2020) that's between $23,399 and $38,399 if single, or between $34,817 and $44,817 if married.
Other Medicare Assistance for Low-Income Recipients
Both a Medicare Savings Program (MSP) or Low Income Subsidy (LIS) through the state department could save you thousands of dollars in healthcare costs if you happen to be a low-income resident.
The State of New Jersey may pay your Part B premium if:
- Your 2019 annual income did not go over $16,872 if single and $22,836 if married,
- Your assets (excluding home and car) are not more than $7,730 for a single person or $28,720 for a married couple.
Another aid for you if you are enrolled in a Medicare Part D prescription drug plan is a low-income subsidy. If you qualify for this, you can have late enrollment fees waived, your premium paid, and lower your co-pay amount—no donut hole included or necessary.
To qualify, you must:
- Not have an annual income for 2019 that goes over $18,735 if single or $25,365 if married
- Not have assets, excluding home and car, totalling more than $14,390 if single or $28,720 if married.
You can explore all of these and more by speaking with an agent at New Jersey Medicare Brokers. Contact an agent to discuss your options with an unbiased, informed expert.
Featured Blogs
- New for 2025 - A Payment Plan for Prescription Drugs
- What Original Medicare Does Not Cover
- How to Avoid Medicare Scams
- Say Goodbye to the Medicare Part D Donut Hole in 2025!
- What are my dental insurance options while on Medicare?
- 2024 Changes to the NJ PAAD and Senior Gold programs: GSK and Eli Lily Participation
- Medicare and Social Security updates for 2024
- 2024 Medicare Enrollment Period
- Medicare Announces Price Negotiations on 10 Prescriptions
- New and Expanded state assistance programs for Seniors in New Jersey - NJ PAAD, Senior Gold, NJ Freeze & Stay NJ
- Supporting a loved one on Medicare in New Jersey
- Five reasons to work with a Medicare Insurance Broker in New Jersey
- NJ FamilyCare, PAAD, and Senior Gold Renewal- Post COVID-19 Emergency Declaration
- 6 Ways to Prepare for Medicare if You’re Working Past 65
- Medicare updates for 2023!
- Medicare Annual Election Period ends 12/7 and NJ State Assistance thresholds have updated for 2023!
- Medicare Advantage Versus Medicare Supplement – What’s the difference?
- Shingles vaccines are $0 in 2023 thanks to the Inflation Reduction Act!
- Medicare Premium is Going Down in 2023! Medicare Annual Enrollment Period is here!
- Protecting Yourself Against Medicare Scams
- Medicare changes when moving to or from New Jersey
- Medicare Premium Payment Options
- NJ PAAD and Senior Gold raised their qualifications by $10,000 in 2022!
- The Medicare Advertisements should stop after December 7th!
- Medicare Open Enrollment Period Continues Until December 7th
- 2022 Medicare Open Enrollment Period
- What will you be billed for a hospital stay with Medicare coverage?
- Understanding Medicare and IRMAA - Income Related Monthly Adjustment Amount
- Does Medicare Cover Gym Membership?
- Are you insured when traveling with Medicare?
- Medicare and Dental
- What to Know when you Qualify for Medicare due to Disability in New Jersey
- What to Know About Medicare and COBRA
- What to Know About Visiting a New Jersey Social Security / Medicare Office
- Options for New Jersey Prescription Help
- How Important is the Medicare Star Rating?
- Medicare Assignment
- Why Should You Engage with a Medicare Broker?
- President Biden’s Medicare Plan
- A Guide to Medicare HMO and PPO Options
- Medicare Part D Senior Savings Model: An Overview
- Do You Need Help with Medicare.gov?
- Medicare and Acupuncture
- Medicare vs Medicaid: What's the Difference?
- What to Do When Helping Parents with Medicare
- Understanding the Medicare Plans in NJ
- Medicare and Coronavirus
- Delaying Medicare Part B
- Finding Medicare Assistance
- How Do I Sign Up for Medicare Part B in New Jersey?
- Medicare Help—Making Medicare Easy
- PAAD: New Jersey's Prescription Assistance Program
- Medicare Insurance Agents and Brokers
- Finding Your NJ Medicare Broker
- Medicare Part D Eligibility
- Medicare Advantage (Part C)
- New Jersey's Dual-Eligible Special Needs Plans - The Facts
- Medicare Eligibilty Age
- Medicare through Social Security Disability in New Jersey - You Don't Just Age into the System
- New Jersey Senior Gold Assistance Program- What You Need to Know
- Assistance Programs in New Jersey for Medicare Eligibles
- Top 7 Medicare Mistakes
- Utilizing Your New Jersey Medicare Insurance Agent
- Medicare and High Income: Does Income Change the Cost of Medicare?
- Changing Medigap Plans
- Why Am I Getting A Bill For a Medicare Physical Exam
- How Medicare Brokers Can Help
- Republican Plans for Medicare in 2020
- What You Need to Know About Medicare in New Jersey
- NJ PAAD Application Help
- What Really Is Medicare for All?