New and expanded assistance programs for seniors in New Jersey
NJ PAAD, Senior Gold, NJ Freeze & Stay NJ
Governor Murphy recently signed into law the 2024 New Jersey state budget. There are a few line items that will help seniors & Medicare recipients living in New Jersey with the cost of their prescription drugs and their property tax payments. Read below for more information:
Assistance with the cost of prescription medications
Expanded programs, NJ PAAD and Senior Gold
The state of New Jersey has two assistance programs to help seniors and the disabled with medication costs. These programs have expanded income eligibility limits for 2024.
New Jersey Pharmaceutical Assistance to the Aged and Disabled (NJ PAAD)
- The New Jersey Pharmaceutical Assistance to the Aged and Disabled (NJ PAAD) program helps pay the monthly premium for many Medicare Prescription drug plans (Part D) or Medicare Advantage plans. Once enrolled, the most you would owe for a 1-month supply of a covered medication is $7, regardless of the price of the prescription. If the prescription is generic, then the maximum copayment is $5.
New Jersey Senior Gold
- NJ Senior Gold is a similar program with higher income qualifications. Senior Gold gives a 50% discount after the first $15 for a prescription is paid. It also has a cap of $2,000 that an enrollee can pay on medications during the year. Anyone currently enrolled in the Senior Gold program will automatically be upgraded to NJ PAAD for next year.
How to Qualify for NJ PAAD and Senior Gold:
The updated qualifications for NJ PAAD and Senior Gold starting in January 2024:
- You are a New Jersey resident
- You are enrolled in Medicare
- Your income is within one of these thresholds:
|
NJ PAAD (2024) |
NJ Senior Gold (2024) |
|
$52,142 if single |
$ 62,142 if single |
|
$59,209 if married |
$69,209 if married |
Property Tax Assistance for Seniors
New Program, StayNJ & Expanded Senior Freeze
Starting in 2026, the new “Stay NJ” law will offer property tax relief as a 50% credit on property taxes bills (up to $6,500) to homeowners aged 65 and older and making less than $500,000 a year. Additionally, the law increases the income threshold for the NJ Freeze program, a property tax reimbursement program for seniors, from $99,735 to $150,000 and lowers the New Jersey residency requirement from 10 years to 3 years. More information on the Senior Freeze program can be found here.
Contact us for more information!
We will send more information on the updated NJ PAAD and Senior Gold program at the end of the year. If you think you qualify for these programs, feel free to reach out to us at www.njseniorins.com or by calling 800-797-0605 and we will assist you with the application process.
Featured Blogs
- 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?