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Medicare Low Income Subsidy – Extra Help

Medicare and prescription coverage. Prescription costs are meddlesome to just about every single Medicare beneficiary out there. Luckily, there are ways to reduce the high costs. Low Income Subsidy – Extra Help is an option worth looking into if you can qualify.

For those of you that might be able to qualify for what is referred to as “Extra Help”, this article is for you.

What is a Low Income Subsidy?

Low Income Subsidy (Extra Help) is offered to lower income Medicare beneficiaries. It is offered to help these individuals cover the costs of their Medicare Part D Prescription Plan, such as Premiums, Deductibles and Co-pays. To qualify for the Low Income Subsidy, a person must be receiving Medicare, have limited resources and income, and reside in one of the 50 States or the District of Columbia.

There are two levels of this Low Income Subsidy. Full qualifiers and partial qualifiers.

Here are the income parameters to qualify: Income Based Parameters

This program is also NOT for those that qualify for full Medicaid AND Medicare benefits.

What does it cover?

*For those of you that qualify for FULL benefits, you will pay the following for your medications:

Copay: $3.95 generic/$9.85 brand Catastrophic Copay: $0

*For those of you that qualify for PARTIAL benefits, you will pay the following for your medications:

Coinsurance: 15% Catastrophic Copay: $3.95 generic/$9.85 brand

*NOTE: That is for a couple, there are individual/single qualifications based on annual income.

This is based on annual income.  Here are the parameters as to what is considered income: What is considered income

Please use this chart to determine if you may qualify.

To view the qualification charts for Alaska and Hawaii, Click Qualification Chart

How To Apply For Low Income Subsidy – Extra Help

In order to apply for the Low Income Subsidy, you have two options.

1: You can apply online. Here is the online application link: Low Income Subsidy Application or,

2: You can apply by calling Social Security at their toll free number (1-800-772-1213).

Once your application has been reviewed, you will receive a letter in the mail letting you know if you qualified or not.

Suggestion – –  apply if you think you could be “close” It’s a rather simple application process and some people do qualify who think they may not.

How do you find the best Part D plan for you? Well, it can be done!  We have some tips in our Vault created just for you to learn how to run the reports and determine which plan out there is the best fit for you. Head over here and learn more.

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