Low Income Subsidy

Low Income Subsidy (LIS) is a program that allows people who qualify to receive discounted prescription drug coverage. Let’s dive deeper into this program and discuss some of its specifics. As always, feel free to reach out to us if you have a question or would like to learn more about your Medicare options.

Medicare Part D

Part D provides prescription drug coverage for those that are enrolled in Original Medicare. Part D is not an option for individuals that choose Medicare Advantage. Part D is organized into different tiers, with each tier representing a certain type of medication. Individuals can choose which coverage tier they’d like and then will pay accordingly.

Some people find that prescription drug coverage isn’t something they can afford. If you’re in that situation, there is a program that may be able to help you out.

Low Income Subsidy

LIS is an excellent way for those that qualify to save on prescription drug costs. Some people find that prescription drug coverage is outside their budget. This is a problem that the LIS program is seeking to solve.

LIS provides discounts on the premiums and copayments of Part D, as well as providing assistance with the deductible. Below is a quick list of what each of these terms are.

  • Premium: This is the amount that you’ll need to pay monthly in order to keep your prescription drug coverage.
  • Copayments: This is the amount that you’ll pay when you pick up a prescription. This amount will depend on the coverage you have, as well as the medications that you’re purchasing.
  • Deductible: Your deductible is a certain sum that must be paid yearly before the full scope of your coverage will begin. Your deductible must be paid entirely out-of-pocket.

There are certain groups of people that must apply for LIS assistance and then there are some people that are automatically eligible. If you’re enrolled in both full Medicaid and Medicare benefits, then you may be eligible automatically to receive LIS help. Another group of people who may be eligible for this program are those who participate in the Medicare Savings Programs.

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Is this program right for you?

If you qualify for LIS help, then you should consider if it could be right for you. This is an excellent way to make sure that you can afford prescription drug coverage and don’t end up with an overwhelming bill at the pharmacy.

The Senior Benefits Advisor is here to help YOU navigate all the options and make the best decision for you.

As a Knoxville-based Medicare advisor, I’m here to answer your questions, identify solutions, and compare cost and coverage details. With my expert guidance, you can comfortably and confidently decide which plan is best for you.

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