The resource limits to qualify for programs that help people with Medicare costs are increasing slightly next year. Starting January 1st, the resource limits for Extra Help with Medicare Prescription Drug Costs (also called the Low-Income Subsidy or “LIS”) will be:
Full Extra Help: $9,470 (single); $14,960 (married)
Partial Extra Help: $14,790 (single); $29,520 (married)
NOTE: These figures include a $1,500 per person disregard given when applicants mark on the application that they expect to use their resources for funeral/burial expenses.
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. More information about qualifying for Extra Help can be found here.
The resource limits for the Medicare Savings Programs are also increasing starting January 1st. These programs help people pay their Medicare Part B premium 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 2021 will be $7,970 (if single) or $11,960 (if married). More information about qualifying for the Medicare Savings Programs can be found here.
Individuals who need help applying for Extra Help or the Medicare Savings Programs are encouraged to call APPRISE at 1-800-783-7067. Once the 2021 Federal Poverty Level figures are announced (usually in late January/early February), PHLP will update its publications about qualifying for Extra Help and the Medicare Savings Programs. Stay tuned for future PHLP newsletters and be sure to check the resource library section of our website next year to see the updated fact sheets!