If you are enrolled in Medicare and you have a low income, you can apply to the Medicare Part D Extra Help program. Extra Help is the name of a Medicare program that can help you pay for all or part of your premiums, all or part of your annual deductible, and lower the co-pays on your prescriptions. It is also called the Medicare Low Income Subsidy (LIS).
Starting January 1, 2024, anyone who qualifies for Extra Help gets a full subsidy. Partial subsidies are gone now. A full subsidy pays for most of your costs.
You may qualify for the full Extra Help Program if your yearly income and resources are below these limits:
Single person: Income less than $21,870 and resources less than $16,600 in 2023.
Married person living with a spouse and no other dependents: Income less than $29,580 and resources less than $33,240 in 2023.
If you are below the limit for only one of the factors (income or resources), you can’t get full help, but you might be able to get some help. You should still apply.
Things that are not counted as resources include your home, one car, household items, burial plots, money set aside to pre-pay burial expenses and burial space items up to $1,500 per person, or life insurance policies.
The income and resource guidelines change every year. The income numbers in this fact sheet are for 2023. New numbers come out in the spring of 2024. The best place to find the newest guidelines is on the web at www.medicare.gov or www.ssa.gov/medicare/prescriptionhelp/.