New Jersey has prescription drug help available for residents with a limited income. This program is called PAAD, Pharmaceutical Assistance to the Aged and Disabled. If the NJ PAAD application seems cumbersome advisors through New Jersey Medicare Brokers LLC can help you fill out the application and assist you with the enrollment process at no charge.
Medicare Part D is prescription drug insurance through private companies which work with the Medicare. On its own Part D plans reduce your drug costs to copays or coinsurance, however the medications costs are continuously rising. It’s not uncommon for a Medicare recipient to have to pay thousands of dollars per year on their medications. For those that cannot afford that, filling out a NJ PAAD application could save you a lot of money.
Qualification for PAAD is based on your income only, assets do not disqualify you for the program. This means you can qualify even if you have a retirement account, investments, and own a home. Many people do not know this and do not fill out a PAAD application because they think their assets will disqualify them.
Eligibility requirements are:
NJ PAAD pays the monthly premium for specific Medicare Part D plans and if you show your pharmacist your card they will bill the state instead of you for all medication costs other than $7 per medication. This is much more manageable for many people. Since this is a New Jersey program you must use a pharmacy and not enroll in the mail order program with your Part D plan.
Along with your application you will need to make copies of documents and cards to prove you are a New Jersey resident, that you are on Medicare, and that you are under the income requirements. Below is a list required items.
PAAD applications are can either be completed on paper or electronically. If you complete the application in paper you can fax the documents to the state at 609-588-7122 or mail to PO Box 637 Trenton, NJ 08625. New Jersey takes a month on average to process the application and determine eligibility. To learn more about the NJ PAAD and Senior Gold programs click here.
Anyone on PAAD or Senior Gold must be enrolled in a Part D drug insurance plan. NJ PAAD is not insurance, it is assistance to help pay for your insurance and the cost sharing on medications. Along with being required to be enrolled in Medicare Part D, there are a few other restrictions that apply to coverage: