reverse annuity mortgage basics
Are you a homeowner having a hard time making ends meet? If you are 68 or older, you may qualify for a Reverse Annuity Mortgage from the Montana Board of Housing. With a Reverse Annuity Mortgage (or RAM), you can access your home's equity to pay for modifications to your home, in-home help, or other needs as you age in place. Find out more at Reverse Annuity Mortgage Basics or call 728-7682 for a RAM consultation.
Click on the video to watch a recent session of Reverse Annuity Mortgage Basics with Todd Jackson.
Big Sky RX Program
If you are on Medicare with limited income, you may qualify for a State or Federal Financial Assistance Program. Big Sky Rx is dedicated to helping Medicare beneficiaries pay for Medicare approved prescription drug insurance premiums (up to $34.61 per month). Big Sky RX is administered by the State of Montana.
Annual Income less than $24,120 (single person) Or $32,480 (two person household.
Insurance premiums (up to $34.00 per month).
No Resource Limit – Resources (IRAs, Bonds, Stocks, Savings Accounts) are NOT income.
Call 1-866-369-1233 or visit http://dphhs.mt.gov/MontanaHealthcarePrograms/BigSky.aspx for more information.
Extra Help Low-Income
Some people with limited resources and income are eligible for Extra Help to pay for the costs of monthly premiums, annual deductibles, and prescription co–payments related to a Medicare prescription drug plan.
To qualify for Extra Help:
Annual Income limited is $16,755 for an individual or $22,695 for a married couple living together. Resource limit is $13,070 for an individual or $26,120 for a married couple living together. Resources include bank accounts, stocks, and bonds. Your house and car are not counted as resources.
For more information, call the Missoula Social Security Administration Office at 1-866-931-9029 or visit https://www.ssa.gov/benefits/medicare/prescriptionhelp to complete an application.
Patient Assistance Programs
Patient Assistance Programs provide free or low cost prescription drugs to patients who cannot afford them. Most drug companies have patient assistance programs. Each drug company has specific eligibility guidelines. There are many websites to help consumers find a Patient Assistance Program; we have listed just a few for your convenience.
Partnership for Prescription Assistance
Medicare Savings Programs
Medicare Savings Programs may be able to help you pay Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) deductibles, coinsurance, and copayments if you meet certain conditions. Program applications and information are available at Missoula Aging Services. Click here for a summary of the income and resources guidelines for the Qualified Medicare Beneficiary Program, the Special Low Income Medicare Beneficiary Program and the Qualified Medicare Beneficiary Program.
Call Missoula Aging Services’ Resource Center at (406) 728-7682 to see if you qualify for assistance programs or use the self-screening tool on the Benefits Check Up web site www.benefitscheckup.org
End Elder Abuse & Financial Fraud!
Financial fraud against older adults is increasing in our country, including here in Montana. For help with financial exploitation or other types of fraud, contact Missoula Aging Services Resource Center at 728-7682. Read an article about the growing epidemic by clicking below.
Financial Fraud Video
Elder Justice Program
Perhaps you have an ailing family member and you want to know whether you need a Power of Attorney, guardianship or conservatorship to deal with that person’s financial matters. Or maybe you seek advice about co-signing a loan for a family member or friend. The Elder Justice Program helps you with legal issues by providing you with the expertise of retired attorney and MAS Governing Board member Larry Riley. Simply call a MAS Resource Specialist at (406) 728-7682, who will then put Mr. Riley in contact with you.
After determining what can be done concerning the issue, Mr. Riley will instruct you on how to proceed. If the issue requires the services of an attorney, he will recommend what lawyers may be available to help. There are no charges for his work; if a private attorney is needed, those charges will be between you and that attorney. Mr. Riley is also qualified to work with a family to explore mediation, in the case of family disputes.