OKLAHOMA CITY – Insurance Commissioner Kim Holland, Oklahoma’s Senior Health Insurance Counseling Program and the national Center for Medicare/Medicaid Services are highlighting limited-income assistance on the cost of prescription drugs, which can save up to $3,600 per year.

“As prices for food and fuel increase, many seniors are searching for help to meet their financial obligations,” said Holland. “This program, designed to help those with limited financial resources, has the potential to help thousands of Oklahomans as they adjust to deteriorating economic conditions.”

The Low-Income Subsidy program was established by the U.S. Social Security Administration to provide relief to low-income seniors in the Medicare system. The program offers help to those with limited income and resources. For those who qualify, the Low-Income Subsidy program will pay all or a part of the monthly premiums, annual deductibles and prescription co-payments.

Eligibility requirements include an income limited to $15,600 for an individual or $21,000 for a married couple living together. Individuals with annual incomes that are higher may still be able to get some help with monthly premiums, annual deductibles and prescription co-payments.

Oklahoma’s SHIP program advises seniors on choices for Medicare coverage and answers other questions for Medicare beneficiaries. To find out more about the Low-Income Subsidy program, call SHIP toll-free at 800-763-2828.

ABOUT THE OKLAHOMA INSURANCE DEPARTMENT

The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.