Medicare Supplement

Extra Help in 2026: Lakewood Seniors Can Cut Drug Costs

LAKEWOOD, Colo. — For many older adults in Lakewood, the price of prescriptions is one of the most stressful parts of a fixed income. The federal Low-Income Subsidy — better known as Extra Help — is designed to ease that pressure, and recent changes have made it available to more people than ever.

Lakewood retirees may qualify for real relief on prescription costs

If you have Medicare and limited income or savings, it's worth a fresh look. The rules changed in 2024, and the 2026 Part D program updates make the safety net even stronger for people who qualify.

What Extra Help actually does

Extra Help is a federal program run by the Social Security Administration and Medicare. It helps pay for Part D prescription drug coverage, including:

• Monthly Part D premiums (up to a benchmark amount)
• The annual deductible
• Copays at the pharmacy counter

Since 2024, the program has offered one full level of benefits — the old "partial" Extra Help tier was eliminated. That means people who qualify now get the full subsidy, which can dramatically shrink what they pay at the pharmacy.

Who qualifies in 2026

To get Extra Help, you generally need to:

• Have Medicare Part A and/or Part B
• Live in the U.S.
• Meet income and resource limits set each year by the federal government

For 2025, the income limit was set at 150% of the federal poverty level, with modest resource limits for savings, investments, and real estate other than your home. The 2026 figures are updated annually — check ssa.gov/extrahelp for the current numbers before applying.

Some people qualify automatically, including those who have both Medicare and full Medicaid, get Supplemental Security Income (SSI), or are enrolled in a Medicare Savings Program. If that's you, you don't need to apply — you're already in.

Why 2026 is a good year to check

Even if you didn't qualify for Extra Help before, the 2026 Part D landscape gives everyone more protection:

• A $2,100 out-of-pocket cap on covered Part D drugs. Once you hit that number, you pay $0 for the rest of the calendar year.
• A maximum Part D deductible of $615, though many plans set theirs lower.
• No more "donut hole." As of 2025, Part D has three simpler phases instead of four.
• The Medicare Prescription Payment Plan, an optional program that lets you spread your yearly drug costs into monthly installments instead of paying big bills at the pharmacy counter.

Extra Help stacks on top of these protections. For someone who qualifies, drug costs can become far more predictable — and much smaller.

Plan choices in the Lakewood area

Lakewood is in Jefferson County, where Medicare beneficiaries choose from a range of stand-alone Part D drug plans and Medicare Advantage plans that include drug coverage. Availability, formularies, and pharmacy networks are set at the county level, so two neighbors in Lakewood generally see the same menu of options.

If you get Extra Help, you can switch Part D or Medicare Advantage drug plans once per calendar quarter during the first nine months of the year — a flexibility that people without the subsidy don't have.

How to apply

You can apply for Extra Help in three ways:

1. Online at ssa.gov/extrahelp 2. By phone at 1-800-772-1213 (Social Security) 3. In person at your local Social Security office

The application is free, and you can apply at any time — you don't have to wait for a Medicare enrollment window. Once approved, Extra Help follows you into whichever Part D plan you choose.

For unbiased, one-on-one help in Colorado, contact the State Health Insurance Assistance Program (SHIP), which locally is run through the Colorado Department of Regulatory Agencies. SHIP counselors don't sell anything.

Key dates to keep in mind

• October 15 – December 7: Medicare Annual Enrollment Period. This is when most people can join, switch, or drop a Part D or Medicare Advantage plan.
• January 1 – March 31: Medicare Advantage Open Enrollment Period, for people already in a Medicare Advantage plan who want to make one change.
• Any time: Extra Help applications and, for those who qualify, quarterly plan changes.

Also worth noting: higher-income beneficiaries pay an income-related surcharge (IRMAA) on Part B and Part D, which for a single filer in 2026 begins above $109,000 in income. Extra Help is aimed at the opposite end of the income scale.