Many people are surprised to learn that they may qualify for a program called Extra Help, also known as the Low-Income Subsidy (LIS)—and they don’t even know it. Extra Help is a Medicare program designed to reduce prescription drug costs for people with limited income and resources. These savings can be significant and may help cover monthly premiums, annual deductibles, and prescription co-payments.
To qualify for Extra Help, you must live in one of the 50 states or the District of Columbia and meet certain income and resource guidelines. Resources include things like checking and savings accounts, stocks, and bonds. However, some important items do not count toward the resource limit, including your primary home, one vehicle, personal belongings, and most life insurance policies.
Even if you believe your income may be too high, you could still qualify for partial assistance—especially if you have higher medical or prescription expenses. Every situation is unique, which is why it’s worth checking.
Extra Help can dramatically lower your out-of-pocket drug costs and provide peace of mind throughout the year. If you’d like to learn more about whether you qualify or want help applying, give us a call today. We’re happy to walk you through your options and answer your questions.
