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Whether you are just starting your research into Extra Help or you have already begun the application process, here’s everything you need to know about Medicare Extra Help for 2024.
What is the Medicare Extra Help program?
Extra Help (also known as Low Income Subsidy or LIS) is a Medicare program designed to help people who may have limited income or resources to pay for prescription drug program expenses. This could include deductibles, premiums, and coinsurance. Qualifying for Extra Help also means that when you join a Medicare prescription drug plan (Part D), there won’t be any late fee for you to pay.
Extra Help was designed from the beginning to support those with the greatest need for help with their Medicare prescription drug coverage costs. The Extra Help is available to those who qualify based on certain criteria.
What does Medicare Extra Help cover?
In general, Medicare Extra Help will cover most, if not all, of your monthly premiums related to your Medicare Part D plan. In addition, Extra Help will also typically cover your annual deductible, as well as a portion of your coinsurance or copayments.
Who qualifies for Extra Help with Medicare?
In order to qualify for Extra Help with Medicare, you must meet certain criteria. The first criterion is that you must be enrolled in Medicare Part A and/or B. In addition, to qualify for 2024, your 2023 income should be less than $21,870 (or $29,850 for all couples), and you must have assets below certain limits.
It should be noted that the income limit for Extra Help is not a hard limit, as some types of income and assets may not be counted. There is also an income disregard of $20 that SSA subtracts automatically from any and all unearned income.
How to get Extra Help for Medicare?
This valuable program is not automatic, so you will need to apply in order to receive Extra Help with Medicare. The process for applying is fairly simple and can be done online, by phone, or by mail. Once you are approved by the Social Security Administration, you will receive a notice. These are color-coded.
- Purple notices mean that you have automatically qualified for the Medicare Extra Help program.
- Yellow notices mean you also automatically qualify because you already qualified for Medicare or Medicaid in the past and are receiving those benefits through Medicare Original.
- Orange notices mean that your copayment for Medicare will be changing next year.
- For those on Supplemental Security Income (SSI), you can present your award letter to SSA as confirmation that you already have SSI.
You can prove you have Medicaid in several ways, including:
- If you do not have your Medicaid card, a copy of it is required.
- A copy of a state document that verifies your eligibility for Medicaid.
- If you are eligible for Medicaid, the state’s automated enrollment system will generate a printout that confirms this.
- If eligible, you can take a screen print of the Medicaid system that confirms your status.
- Any other official state document that confirms you have Medicaid.
The benefits of Extra Help for Medicare
The Medicare Extra Help program is an invaluable resource for those who qualify. There are several benefits of the program, including:
It helps cover the costs of Medicare
The Extra Help program is designed to help those who have difficulty paying for their Medicare prescription drug coverage. The program will typically cover most, if not all, of your monthly premiums related to your Medicare Part D.
It also helps cover other costs
In addition to helping with monthly premiums, the Extra Help program can also assist with other costs related to your Medicare prescription drug coverage. This could include deductibles, coinsurance, and copayments.
It provides peace of mind knowing you will not pay late fees
If you are approved for Extra Help, you will not be charged late fees for your Medicare prescription drug coverage. This is because the Extra Help program pays those fees on your behalf.
No worries about coverage being interrupted due to non-payment
If you are enrolled in Medicare Part D and qualify for Extra Help, your coverage will not be interrupted if you are unable to pay your premiums. This is because the Extra Help program pays those premiums on your behalf.
The Medicare Extra Help Program application
To apply for Extra Help for Medicare, you must first be enrolled in a Medicare Prescription Drug plan. Once you are enrolled, your Extra Help assistance will begin.
There are four ways to apply for Medicare Extra Help:
- The first is online, through the Social Security Administration website.
- The second is by phone by calling 1-800-772-1213 (TTY 1-800-325-0778)
- The third is by mail
- The final way is to book an appointment at a local SSA office to make your application.
If you need help selecting a Medicare Drug Prescription Plan that fits your needs, you can use our Plan Finder tool.
Questions about Medicare?
Shoot us an email at medicare@hihella.com.
