Extra Help, also known as the Low-Income Subsidy (LIS), is Medicare’s secret weapon against high prescription drug costs. This program is designed to assist people with limited income and resources in paying for their Medicare prescription drug plan costs.
Extra Help can be a game-changer for many Medicare beneficiaries. If you qualify, you could save thousands of dollars per year on your prescription drugs. It’s like finding a golden ticket in your Medicare chocolate bar!
The program helps in several ways. It can lower or eliminate your Part D premium and deductible, reduce your copayments or coinsurance, and eliminate the coverage gap (“donut hole”). For many, this means paying no more than $3.95 for generic drugs and $9.85 for brand-name-covered drugs in 2023.
Eligibility for Extra Help is based on your income and resources. In 2023, you may qualify if your Opem income is up to $20,385 for an individual or $27,465 for a married couple living together. Resource limits apply too, but not everything counts – your home, car, and life insurance policies, for example, are excluded.
At Senior Healthcare Solutions with Papa John, LLC, we’re experts in navigating the Extra Help program. We can help you understand if you might be eligible, guide you through the application process, and ensure you’re getting all the benefits you qualify for.
Don’t let prescription drug costs break the bank! Contact us today to see if you qualify for Extra Help and let us guide you through the application process for potentially significant savings on your medications.
We simplify Medicare choices for seniors with personalized plans, expert guidance, and ongoing support to ensure optimal healthcare coverage and peace of mind.
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