Low Income Subsidy (LIS) program most likely refers to LIS Extra Help NJ, also known as "Extra Help," which is a federal program that helps people with Medicare who have limited income and resources pay for their prescription drug costs.
New Jersey is one of the states in the United States where this program is available. The LIS program provides assistance with paying Medicare Part D premiums, deductibles, and coinsurance. Eligibility for the program is based on income and resources, and the program can provide significant cost savings for those who qualify.
To be eligible for the Low Income Subsidy (LIS) program, also known as "Extra Help," in New Jersey, you must meet certain income and resource limits. Here are the requirements:
• Income: Your annual income must be below a certain level, which changes every year. For 2023, the income limit for the LIS program is $19,320 for an individual or $26,130 for a married couple living together. If you have other sources of income, such as wages or investments, these will be taken into account when determining your eligibility.
• Resources: Your "countable" resources, which include things like cash, savings, and investments, must be below a certain level. For 2023, the resource limit for the LIS program is $16,955 for an individual or $27,910 for a married couple living together. However, not all assets are counted when determining your eligibility, such as your primary residence, personal belongings, and one car.
It's important to note that even if you don't meet the income and resource requirements, you may still be eligible for the LIS program if you have certain expenses, such as medical bills or living expenses, that can be subtracted from your income.
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