Medicare Beneficiaries Receive Extra Help with Rx Costs
Medicare beneficiaries who are overwhelmed by the cost of prescription drugs may be eligible for up to $4,000 per year in Federal assistance. Elder Law & Advocacy can help these individuals to apply for the Social Security Administration‘s Extra Help program, also known as Low Income Subsidy (LIS). The Extra Help program is aimed at lowering Part D prescription drug costs for low-income, older individuals. Benefits of Extra Help include reduced monthly premiums and deductibles, smaller copays, elimination of the Donut Hole, and the ability to switch drug plans at any time. Beneficiaries may qualify for full or partial subsidy depending on their income and asset levels. This program can be very beneficial to individuals who exceed the income and resource limits of Medi-Cal but still struggle to cover their drug costs. While this program is administered by the Social Security Administration, Elder Law & Advocacy’s Health Insurance Counseling and Advocacy Program (HICAP) can prepare and submit online applications for beneficiaries at no cost (call 1-800-434-0222). The application itself takes about ten...
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