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The Low-Income Subsidy, besides known as Extra Help, can help pay Medicare Part D prescription drug costs for those who qualify. Learn more about how you qualify for the Low-Income Subsidy and how to apply for aid.
How the Low-Income Subsidy helps with prescription drug costs
The Low-Income Subsidy program may help with Medicare Part D costs like premiums, deductibles, copayments, and other prescription drug costs. For exemplar, in 2019, those who get the Low-Income Subsidy won ’ deoxythymidine monophosphate give more than $ 3.40 for a traverse generic prescription drug or $ 8.50 for a cover brand-named medication. According to the Social Security Administration ( SSA ), Extra Help is estimated to be deserving about $ ,4,900 a year. Those who qualify get either “ fond ” or “ wax ” Extra Help ; the sum of fiscal aid you may receive will vary depending on your income and asset levels.
Eligibility for the Low-Income Subsidy
eligibility for the Medicare Low-Income Subsidy is based on your income and asset levels, which may change from class to year. To be eligible for Extra Help, you must :
- Be enrolled in Medicare Part A and Part B
- Live in one of the 50 United States or the District of Columbia
- Have a yearly income of $18, 735 or less (for individuals) or $25, 365 or less (for married couples living together).
- Have resources totaling $28,720 or less (for married couples living together) or $14,390 or less (for individuals)
Types of income that affect eligibility for the Low-Income Subsidy
The Social Security Administration looks at certain types of income and resources to decide if you ’ re eligible for the Low-Income Subsidy.
Resources that are counted include :
- Checking accounts
- Savings accounts
- Stocks and bonds
- Real estate investments beyond your home
Resources that are not counted :
- The value of one home
- The value of one car
- Burial plot
- Burial expenses (up to $1,500 if you’ve set aside money for that purpose)
- Furniture and other household items
- Personal belongings
- Life insurance policy
- Back payments from Social Security or Supplemental Security Income
What if my income and resources exceed limits for the Low-Income Subsidy?
even if your annual income and countable resources exceed the listed limits, you may even be eligible for the Low-Income Subsidy in some situations. For example, the trace circumstances are taken into consideration when determining your eligibility for the Medicare Low-Income Subsidy :
- You have earnings from work.
- You reside in Alaska or Hawaii.
- You financially support other family members who live with you.
If your income and resource levels exceed the eligibility limits, but one of the above situations applies to you, it might be deserving submitting an lotion precisely in case. If you have other questions about eligibility for the Low-Income Subsidy, you can contact Social Security ( contact information below ).
How to apply for the Low-Income Subsidy
You can apply for the Low-Income Subsidy through your state ’ randomness Medicaid platform or by contacting the Social Security Administration ( SSA ). You can reach Social Security by :
- Calling 1-800-772-1213. TTY users can call 1-800-325-0778. Representatives are available Monday through Friday, from 7AM to 7PM in all U.S. time zones.
- Visiting an SSA office in person.
- Applying online through the Social Security website.
Please note that even if you aren ’ deoxythymidine monophosphate eligible for the Extra Help program one year, you can constantly reapply another year if your income levels change. Do you have more questions on the Low-Income Subsidy ? If you ’ d like serve finding Medicare design options that could help with prescription drug costs, contact us to speak with a accredited eHealth policy agent. Compare Medicare prescription drug plans at your convenience by typing your nothing code in the box on this page.