Retirement Partners LLC Blog
Low Income Subsidy or (LIS) is for beneficiaries who need extra help paying for Part D
Are you having trouble paying for your Medicare Part D costs? Their may but help and many beneficiaries don't know about it. For individuals who are receiving LIS, the benefits are help with monthly premium, deductibles, co-insurance and co-payments. Another benefit is you are no longer subject to gap in your drug coverage. Also known as the Donut Hole.
The amount of the subsidy depends on your income compared to the Federal Poverty Level and resource limitations that are set by Social Security.
Medicare Extra Help Qualifications
You may qualify for LIS under Medicare Part D if:
Assets that count toward you eligibility:
Medicare does not count resources such as your primary residence, car and insurance against you. Many Medicare Beneficiaries qualify for extra help and don't even know it. If you are unsure if you qualify the best way to find out is to apply.
How to Apply for Medicare Low Income Subsidy (LIS)
To apply you need to fill out an application form with Social Security. This form is on our website under extra help.
If you have more questions or need help give us a call!
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