Note: This article is over 60 days old, and may contain information that is out of date, or has been superseded by newer information.
Some Medicare members with limited income and resources quality for a Medicare program that provides extra help for prescription drug costs. Don’t assume you can’t qualify! The Low-Income Subsidy program, or LIS, can be very valuable, even paying for most of the monthly Part D premium and lowering prescription co-payments. The extra help could be worth up to $3,600 per year. To find out if you qualify, call Social Security at 1-800-772-1213 (TTY 1-800-325-0778), or apply on-line at www.socialsecurity.gov.
To qualify in 2008* you must have:
- Income limited to $15,600 for an individual or $21,000 for a married couple living together.
- Resources limited to $11,990 for an individual or $23,970 for a married couple living together. Resources include such things as a bank account, stocks, and bonds. Your house and car are not counted as resources.
Even if your income or resources are slightly higher than these limits, you should still contact Social Security. Other deductions may be allowed, making you eligible for the extra help.
*These limits will change in 2009. If you support other family members, these limits may be slightly higher.