Save on Medicare Meds

Medicare’s Low-Income Subsidy (LIS), also known as “Extra Help,” is a program that helps people with Medicare who have limited income and resources pay for their Medicare costs. Eligible individuals may receive help with the costs of their Medicare Part D (prescription drug) coverage and may also qualify for additional savings on their monthly premium and deductibles.

To be eligible for the LIS program, an individual’s income and resources must fall below certain limits. These limits change annually, so it’s important to check for the current year. However, in general, the income limit for an individual is $19,140 per year in 2021, and the resources limit is $14,610. The limit for married couples is higher.

Benefits of the LIS program include:

• Reduced monthly premiums: Many people with the LIS program pay little or nothing for their Medicare Part D plan premium.
• Reduced deductibles: Some people with the LIS program pay lower deductibles for their Medicare Part D plan.
• Reduced co-payments: Some people with the LIS program pay lower co-payments for their prescription drugs.
• Assistance in paying for the coverage gap (also known as the “donut hole”): People with the LIS program may receive additional savings on prescription drugs while they are in the coverage gap.