What kind of financial assistance does a customer receive who qualifies for a low-income subsidy?
Asked by: Tess Franecki II | Last update: June 21, 2025Score: 4.3/5 (4 votes)
What kind of financial assistance does a consumer receive who qualifies for low income subsidy Quizlet?
The Low Income Subsidy (LIS), also called Extra Help, helps Medicare beneficiaries with their prescription drug expenses. It provides financial assistance to certain beneficiaries to help them pay for the cost of Medicare Part D which is prescription drug coverage.
How to qualify for a low income subsidy?
It is also known as the Part D Low-Income Subsidy (LIS). If your monthly income is up to $1,976 in 2025 ($2,664 for couples) and your assets are below specified limits, you may be eligible for Extra Help (see the Extra Help income and asset limit chart for details).
What provides assistance to those with low incomes and limited resources?
Medi-Cal is California's Medicaid program. This is a public health insurance program that provides free or low cost medical services for children and adults with limited income and resources.
How does a consumer who qualifies for low income subsidy receive financial assistance for their part of Medicare Part D costs?
The Extra Help program helps people with limited income and resources lower or cut Part D costs. Medicare Part D provides drug coverage. The Extra Help program helps with the cost of your prescription drugs, like deductibles and copays. You can apply for Extra Help any time before or after you enroll in Part D.
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Who qualifies for subsidy?
- In states that have expanded Medicaid coverage, your household income must be below 138% of the federal poverty level (FPL) to qualify.
- In all states, your household income must be between 100% and 400% FPL to qualify for a premium tax credit that can lower your insurance costs.
What is consumer assistance?
Many states offer help to consumers with health insurance problems through Consumer Assistance Programs* (CAPs). Through a federal grant, many States have established CAPs in order to better assist consumers experiencing problems with their health insurance or seeking to learn about health coverage options.
What is financial assistance?
Financial assistance is the transfer to a non-federal recipient anything of value for a public purpose, and at DHS includes grants, cooperative agreements, training, loans, direct payments, and flood insurance.
What are the four types of Medicaid?
- State-operated fee-for-service (FFS)
- Primary care case management (PCCM)
- Comprehensive risk-based managed care (MCO model)
- Limited-benefit plans.
What are four examples of government subsidies that help poor people?
- Temporary Assistance for Needy Families (TANF) ...
- Low-Income Home Energy Assistance Program (LIHEAP) ...
- Supplemental Nutrition Assistance Program (SNAP) ...
- Housing Choice Vouchers. ...
- Supplemental Security Income (SSI) ...
- Head Start. ...
- Federal Pell Grants.
How much can you make on social security and still get extra help?
You should contact Social Security for other resource exclusions. What is the income limit? To be eligible for Extra Help, your annual income must be limited to $22,590 for a person or $30,660 for a married couple living together.
How is low income housing subsidized?
Housing subsidies
Subsidies can be provided in the form of housing vouchers given to tenants, e.g. Section 8 (Housing), or via direct deposits to landlords with government contracts to provide affordable housing.
Who is eligible for the 2024 subsidy program?
In or after 2024, to be eligible for a full (100%) premium subsidy, the individual must have countable income less than 150% of the FPL for the applicable State and family size. Before 2024, the individual's countable income must be less than 135% of the FPL for the applicable State and family size.
What are the extra help changes for 2024?
Starting January 1, 2024, you'll pay <up to $1.55 or $4.60 for generic drugs and up to $4.50 or $11.20 for brand-name drugs or $0> for each covered prescription you fill at one of your Medicare drug plan's participating pharmacies.
Which consumer is eligible for a stand-alone?
Enrollment in Medicare Part A and/or Part B: To be eligible for a standalone Medicare prescription drug plan, you must be enrolled in Medicare Part A and/or Part B. This includes individuals who are 65 years or older, as well as certain individuals under 65 with qualifying disabilities.
What happens if you make too much money while on Medicaid?
If you're over the Medicaid income limit, some states let you spend down extra income or place it in a trust to help you qualify for Medicaid. If you receive long-term care but your spouse doesn't, Medicaid will allow your spouse to keep enough income to avoid living in poverty.
Which federal program provides health care for low-income Americans?
Medicaid and the Children's Health Insurance Program (CHIP) provide free or low-cost health coverage to some low-income people, families and children, pregnant women, the elderly, and people with disabilities. Some states expanded their Medicaid programs to cover all people below certain income levels.
What is SSI and Medicaid?
The Supplemental Security Income ( SSI ) program is a crucial component of the social safety net for low-income adults with severe disabilities. In addition to providing federal cash payments (with optional state supplements), SSI often serves as a gateway to health insurance under Medicaid.
What is a finance assistance?
A financial assistant is responsible for the day-to-day tasks in a financial department, for example, ensuring that the organisation has their bookkeeping in order for budgets and taxes. Preparing balance sheets, entering data into the system and updating financial records are some of the tasks involved.
What qualifies as federal financial assistance?
Federal financial assistance (FFA) is assistance that grantees receive or administer in the form of grants, cooperative agreements, non-cash contributions or donations of property, direct assistance, loans, loan guarantees, and other types of financial assistance.
What is payment assistance?
Key Takeaways. Down payment assistance (DPA) programs provide eligible homebuyers with loans or grants to help cover down payment and closing costs. These programs are typically reserved for first-time homebuyers or buyers with lower to moderate incomes for their area.
What are the 4 types of consumer benefits?
- Core benefits.
- Expected benefits.
- Augmented benefits.
- Potential benefits.
How do you get consumer help?
Contact the Citizens Advice consumer service if you need more help with a consumer problem. For example they can help with things like broken or faulty goods, or problems with energy or post.
What is the cap grant?
The Consumer Assistance Program Grants (CAP Grants) provide the resources necessary to help educate and provide accurate information to consumers who are making difficult health care decisions.