Medicare is a the federal health insurance program for people aged 65 and older, certain younger people plagued by a disability, and those with End Stage Renal Disease (ESRD is permanent kidney failure that requires dialysis or a transplant). While Medicare helps qualified people with some of their medical expenses, those enrolled in Original Medicare (Part A and Part B) will still have to pay coinsurance, copayments, and deductibles for covered services. Part B also comes with a premium amount of $134 a month for the year 2017. Some essential health services and products are not covered at all. All of this could be frightening for someone on a fixed income. We are here to let you know that there are some options that may be available to Medicare beneficiaries with low incomes. Many may be eligible to receive additional help for important doctors, prescriptions and needed services.
The Federal government maintains a program called the Low Income Subsidy Program (LIS). It is often times also referred to as Extra Help. This program helps those with a limited income and resources pay for their prescription drug costs associated with Medicare. Here are 7 essential aspects of LIS that Medicare eligibles and beneficiaries should understand.