MEDICARE SAVINGS PROGRAM (MSP)
& LOW INCOME SUBSIDY (LIS)
Consumers receiving Medicare who have limited income and assets may qualify for Extra Help with the cost of their prescription drugs. The Social Security Administration (SSA) and Medicare work together to provide this extra help through the Low Income Subsidy (LIS) — also known as the Extra Help program.
Prescription drug costs continue to increase. The insurance maze of tiers, generic vs. non-generic, co-pays and donut holes can be confusing. Some consumers skip doses or just stop taking the medicines that their doctors recommend because they simply cannot afford them. Not taking a prescribed medicine or not taking it as directed can lead to additional health problems.
The Medicare Savings Program (MSP) and Low Income Subsidy (LIS) may be the answer for some struggling seniors.
Those who are eligible for the low income subsidy will get help paying for 75% or more of their monthly Part D premium, yearly deductible, and prescription co-payments. They will also have no gap in coverage = No Donut Hole.
Our agency can assist individuals with the application process. The application is completed electronically with the Social Security Administration (SSA).
Contact our Northern Counties office at (937) 498-4593 or (833) 289-0227 for more information.