Are prescription drug costs leaving you concerned about your budget? Medicare Extra Help could be your pathway to affordable healthcare and peace of mind.

Medicare Extra Help, also known as the Low-Income Subsidy (LIS) program, is a government assistance program designed to help Medicare beneficiaries with limited income and assets pay for their prescription drug expenses. This program helps pay for premiums, deductibles, and copays.

Key Benefits:

• Premium Assistance: Depending on the level of Extra Help you qualify for, you could receive assistance paying all or part of your Medicare Advantage or stand-alone Prescription Drug Plan (PDP) monthly premiums.
• Reduced Deductibles and Copays: Extra Help can reduce or eliminate any drug deductibles you pay, and it caps your out-of-pocket copays at significantly reduced amounts, even for brand-name drugs.
• Coverage Gap Help: This program significantly reduces the impact of the coverage gap, often referred to as the “donut hole,” that can lead to higher costs in standard Medicare Part D plans.

Qualifications:

If your income is below $1,843 per month as an individual or $2,485 as a couple, you may qualify for Extra Help. Your household size and asset levels also greatly affect your eligibility. That’s why it’s crucial to work with an expert so you get everything you are entitled to.