Medicare Part D RX Plan – Low Income Subsidy
Low-Income Subsidy or Extra Help is a program for Medicare beneficiaries who have limited income & resources.
Another name is Low Income Subsidy or Extra Help & accompanies your Medicare Part D RX Plan. It helps them pay their monthly Medicare Part D RX Plan premiums & prescription co-payments, as well as deductible – if applicable.
Many Medicare beneficiaries with income below 150% of the Federal Poverty Level (FPL) are eligible to apply, but many are not aware Extra Help is available & they have never applied or received the benefits they deserve. More than 34% of all Medicare beneficiaries reported income less than 150% of FPL!
Medicare beneficiaries on Supplemental Security Income or Medicare Savings Programs are made aware of this program automatically.
General Outlines for Eligibility:
*Income less than $16,755 for a single person or $22,695 for a married person
*Resources less than $13,070 for a single person or $26,120 for a married person
Examples of Assets Include:
Cash, including checking & savings accounts)
Certificates of Deposits
Retirement Accounts
Stocks, Bonds, Mutual Funds
Mortgages
Property that can be converted to cash within 20 days
Life Insurance Cash Value
If you know of anyone who might qualify for this valuable service from Social Security Administration, get in contact with Center for Medicare & Medicaid Services - Phone # 1-800-633-4227 or www.ssa.gov
