March 27, 2024
The Centers for Medicare and Medicaid Services issued new guidelines for individuals applying and qualifying for Low-Income subsidy, a program also known as Extra Help.
As of January 1, 2024, the Inflation Reduction Act will expand full Extra Help eligibility to individuals:
- With incomes up to 150 percent of the federal poverty level
- Who meet the statutory resource requirements
Individuals who previously qualified for partial Extra Help will now be eligible for full Extra Help benefits.
In 2024, the resource limits for full Extra Help are:
- $15,720 if single
- $31,360 if married
What is Extra Help?
You may have heard Extra Help being referred to as Low-Income Subsidy. Extra Help is a federal program that aims to provide financial assistance with out-of-pocket Medicare expenses. These expenses may include premiums, deductibles, and copayments.
Who is eligible for Extra Help?
Extra Help eligibility is based on income and assets. You may automatically be enrolled if you have a Medicare Savings Program, are fully dual-eligible for Medicare and Medicaid, or receive Supplemental Security Income but do not receive Medicaid.
More information on Extra Help
More information on the Low-Income Subsidy announcement
