Low Income Subsidy Program (LIS)
The Low Income Subsidy Program (LIS) is a Medicare Part D benefit the provide financial assistance know as Extra Help to those with limited incomes and assets. If you are eligible for Extra Help, your Part D premiums, deductibles and co-payments can be eliminated or significantly reduced. In addition, you will not be exposed to the coverage gap, also know as the “donut hole.” About one-third of all Medicare beneficiaries are likely to be eligible for the Low Income Subsidy Program. If you are a senior and have Medicare Part D, we recommend checking to see if you are eligible for the benefits from the Income Subsidy Program.
Do I Qualify for the Low Income Subsidy Program?
You must have limited income and may have to pass an asset test to be eligible for Extra Help from the Income Subsidy Program. Medicare Part D provides different levels of financial assistance based on income and asset limits. In general, you are eligible for some type of assistance if you income is less than $17,655 for an individual and $23,895 for a married couple, and your resources are less than $13,640 for an individual and $27,250 for a married couple. Resources do not include your primary residence or vehicle.
For more information or to determine your eligibility for the Low Income Subsidy Program, please call us at one of our Cannon Pharmacy locations. We are specialists in Medicare Part D and can also help with Low Income Subsidy Program questions.