Medicare Part D Low Income Subsidy and Medicaid

by | May 7, 2016 | Medicare and Social Security | 0 comments

The Medicare Part D Low Income Subsidy, also known as Extra Help, provides financial assistance for prescription drug coverage to those with limited income and assets. Several different levels of financial assistance are available under the Low Income Subsidy based on income and asset limits. Individuals who are also eligible for Medicaid receive the highest level of financial assistance under the Medicare Part D Low Income Subsidy. These individuals are often known as “dual eligibles.”

Dual eligibles have no copays, no deductible, and no coverage gap (aka the “doughnut hole”). Many individuals who are awarded long-term care assistance under the Medicaid program are surprised to learn that he or she will also receive the additional benefit of no cost drug coverage. For some individuals, the savings associated with becoming a dual eligible can be hundreds of dollars a month.

If you are someone you know wants to review their eligibility for the Medicare Part D Low Income Subsidy, please contact us to schedule an appointment. You can also reach us via phone at (317) 622-8181.