The resource limits to qualify for programs that help with Medicare costs are increasing next year!
The Extra Help program lowers people’s Medicare Part D costs. The amount of help someone gets depends on their income and resources or whether they get any Medicaid coverage. The Extra Help program is also called the Low-Income Subsidy or “LIS”. Starting January 1st, the Extra Help resource limits will be:
- Full Extra Help: $10,590 (single); $16,630 (married)
- Partial Extra Help: $16,660 (single); $33,240 (married)
NOTE: These figures include a $1,500 per person disregard given when applicants mark on the application that they expect to use some of their resources for funeral/burial expenses.
Medicare Savings Programs
The resource limits for the Medicare Savings Programs (also called “buy-in”) help people pay their Medicare premiums and may also help pay the Medicare Part A and Part B deductibles and co-insurance if the person has very low income. The resource limit for the Medicare Savings Programs in 2023 will be $9,090 (if single) or $13,630 (if married). More information about qualifying for the Medicare Savings Programs can be found here and here.
Individuals who need help applying for Extra Help or the Medicare Savings Programs are encouraged to call PA MEDI at 1-800-783-7067. Once the 2023 Federal Poverty Level figures are announced early next year, PHLP will update its publications about qualifying for Extra Help and the Medicare Savings Programs. Stay tuned to future newsletters and be sure to check the Resource Library section of our website next year to see the updated fact sheets.