What is the low-income subsidy (LIS), also known as “extra help”?
The Part D benefit provides financial assistance known as “extra help” to those with limited income and assets. If you are eligible for “extra help” your Part D premiums, deductibles, and co-payments can be eliminated or significantly reduced. In addition, you will not be exposed to the gap in coverage – the period in which seniors must pay for 100 percent of their drug costs – also known as the “donut hole.” About one-third of all Medicare beneficiaries (13.2 million people) are likely to be eligible for the low-income subsidy. The Social Security Administration estimates that this “extra help” could be worth an average of $3,600 per year. The National Committee strongly encourages all seniors who think they might be eligible for the “extra help” to apply for this valuable assistance with their drug expenses. You must have limited income and may have to pass an asset test to be eligible for “extra help.” Medicare Part D provides different levels of financial assistance based on income
The Part D benefit provides financial assistance known as “extra help” to those with limited income and assets. If you are eligible for “extra help” your Part D premiums, deductibles, and co-payments can be eliminated or significantly reduced. In addition, you will not be exposed to the gap in coverage – the period in which seniors must pay for 100 percent of their drug costs – also known as the “donut hole.” About one-third of all Medicare beneficiaries are likely to be eligible for the low-income subsidy. The Social Security Administration estimates that this “extra help” could be worth an average of $3,900 per year. The National Committee strongly encourages all seniors who think they might be eligible for the “extra help” to apply for this valuable assistance with their drug expenses. You must have limited income and may have to pass an asset test to be eligible for “extra help.” Medicare Part D provides different levels of financial assistance based on income and asset limits. In
