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Saundra, a compliance officer, discusses the Low Income Subsidy (LIS), also known as Extra Help for prescription drugs, provided by Social Security to assist Medicare beneficiaries with out-of-pocket costs for prescriptions. LIS helps with Part D plan premiums, deductibles, co-pays, and coinsurance, as well as offering gap coverage. Eligibility is based on receiving Medicare benefits and means-based criteria, with income and asset limitations. Certain assets, such as the home you reside in and life insurance, are excluded. Visit ssa.gov for this year's limits and a full list of assets.
