Extra Help for Part D Drug Costs
If you are currently enrolled in Medicare you may be qualified for a government program that assists with the annual deductible, monthly premiums and copayment expenses associated with a Medicare Part D Drug plan. This program is called “Extra Help” or Low Income Subsidy (LIS).
How it works is the government evaluates the income and asset levels of applicants that apply. There is a scale of benefits based on the level of your income that could include help with drug costs, Part D premiums paid and elimination of the annual coverage Gap or “Donut Hole”. The drug copayments can be reduced to a maximum of $2.65 for generic drugs and $6.60 for brand name drugs or a maximum of 5% coinsurance. All Part D drug plans will work with this additional help.
In general, you are eligible for some type of assistance if your income is less than $17,235 for an individual and $23,365 for a couple, and your assets are less than $13,300 for an individual and $26,580 for a couple. Some individuals automatically qualify for this prescription assistance program, including those who are on Medicare and either have full Medicaid coverage, are enrolled in a Medicare Savings Program, or receive Supplement Security Income (SSI) benefits.
To apply for this Extra Help, please contact Social Security or apply online at www.socialsecurity.gov/extrahelp — or call 1-800-772-1213 to apply over the phone or to request the “Application for Extra Help with Medicare Prescription Drug Plan Costs”