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For 1 in 4 seniors, Extra Help cuts medication costs

Tens of thousands of Michigan seniors — 1 in 4 Medicare beneficiaries, according to federal estimates — are leaving millions of dollars on the table because they haven’t asked for Extra Help. That’s the name of a Medicare program, also known as Medicare’s Low Income Subsidy (LIS), that shrinks out-of-pocket costs for prescription drugs under Medicare Part D, the drug plan for those who don’t otherwise have drug coverage. Once a person is approved for Extra Help, his or her insurer is notified, and the beneficiary gets financial help paying a Medicare drug plan’s monthly premium, yearly deductible, coinsurance and copayments…Read More

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