Eligible Medicare beneficiaries with limited income can receive “extra help” or assistance with prescription drug costs (about $4,900 annually) associated with their Medicare prescription drug plan This program, also known as the Low Income Subsidy (LIS), can reduce or eliminate the premium and deductible for Medicare prescription drug coverage, depending on the individual’s economic qualifications.1
In order to receive Extra Help with prescription drug costs, you must meet the following criteria:2
You automatically qualify for the Extra Help program if you are enrolled in Medicaid or a Medicare Savings Program. You also qualify if you receive Supplement Security Income (SSI) payments.
In order to see what assistance you’ll receive, you’ll need to send to your Medicare plan some form of documentation indicating you qualify for Extra Help.3 Examples include:
In 2019, if you qualify for the full Extra help, you will pay no more than $3.40 for each generic/$8.50 for each brand-name covered drug.4
HealthPocket is a free information source designed to help consumers find medical coverage. Whether you are looking for Medicare, or an individual and family health insurance plan, we will help you find the right healthcare option and save on your out of pocket healthcare costs. We receive our data from government, non-profit and private sources, and you should confirm key provisions of your coverage with your selected health plan. If you select a plan presented on our site, you will be directed (via a click or a call) to one of our partners who can help you with your application. Our website is not a health insurance agency and not affiliated with and does not represent or endorse any health plan. HealthPocket, Inc. is part of the Health Insurance Innovations, Inc. family of companies (NASDAQ: HIIQ).