Financial assistance

On January 31, the U.S. Department of Health and Human Services’ (HHS) Office of the Assistant Secretary for Planning and Evaluation (ASPE) released a report titled “Medicare Enrollees and the Part D Drug Benefit: Improving Financial Protection through the Low-Income Subsidy.” The report highlights findings from an analysis of Medicare data from 2020, including that the Inflation Reduction Act’s (IRA) expanded financial assistance in Medicare’s Low-Income Subsidy (LIS) Program would have benefited nearly 461,000 Partial LIS enrollees had the provision been in effect in 2020. An additional 2.9 million Part D enrollees who were eligible but not enrolled in LIS would also have benefited from the program...

Justice in Aging recently released a fact sheet on the annual open enrollment periods (OEP) for Medicare and the Marketplace for the 2024 plan year and highlights issues that are of particular relevance to assisting low-income older adults. Medicare open enrollment is currently underway and ends December 7th. Low-income individuals may be eligible for financial assistance with Medicare costs through the Medicare Savings Program and Low-Income Subsidy/Extra Help. Older adults who are not eligible for Medicare and do not have other health insurance can use the annual fall OEP to enroll in or change 2024 coverage through the Affordable Care Act’s Health Insurance Marketplaces...