As reported yesterday, open enrollment is going on now for Medicare Part D.

Whether you are looking to get into the program for the first time, or looking to change your coverage, now is the time do that. However, for some seniors, the costs associated with Medicare Part D can be too overwhelming. Jack Meyers with Social Security says they provide assistance to low income seniors who may need help in covering some of those expenses associated with Medicare Part D that can save seniors around $4-thousand a year.

[audio:11612medicareassist1.mp3] [/audio]

There are earnings and asset limits to this financial assistance. Meyers explains the limits apply for both income and assets, and are garnered towards a single person, or a married couple living together.

[audio:11612medicareassist2.mp3] [/audio]

Meyers points out for seniors concerned over the value of their homes or vehicles, Social Security does not have to count your home if you own it and live in it. He also says vehicles are not considered a part of your assets either. Assets include the likes of bank accounts, retirement accounts, and stocks or bonds.

[audio:11612medicareassist3.mp3] [/audio]

Meyers says the application process is not difficult. The only thing you need to know is your assets and your income. You can apply two different ways, you can go to www.socialsecurity.gov or can call Social Security at 1-800-772-1213.