The Federal Poverty Level (FPL) Guidelines determine the income level requirements for people applying for the Medicare Part D Low Income Subsidy (LIS) or Extra Help program.
The Medicare Part D Extra Help or LIS program helps Medicare beneficiaries pay less for their Medicare prescription drug plan premiums, co-payments, and deductible. You can read more on the Extra Help program here:
q1medicare.com/PartD-ExtraHelp-Low-Income-Subsidy-LIS.php.
Typically, if your income is below
150% of the FPL ($22,590 if you are single or $30,660 for married couples), you could qualify for the Low Income Subsidy (please remember that asset or
financial resource limits also apply. - see 2024 chart).
Keep in mind that 2023 was the last year for partial Extra Help. For plan year 2024 and beyond, the
Inflation Reduction Act (IRA) increased full Extra Help benefits to people at or below 150% of FPL and consequently, the partial Extra Help (135% to 150% of FPL) designation was eliminated.
The FPL is also used to determine eligibility for the Medicare Savings
Programs (for example, the
QMB or
SLMB or QI programs). Medicare
beneficiaries must meet both income and asset requirements to qualify
for a Medicare Savings Program.
You can read more about Medicare Savings Programs here:
Q1FAQ.com/184