You may receive assistance from your state with the expense of your Medicare Part A (Hospital Insurance) and Part B (Medical Insurance) premiums through one of the Medicare Savings Programs. If you meet the eligibility criteria, these programs might cover your Medicare Part A and Part B deductibles, coinsurance, and copayments.
To apply for a Medicare Savings Program, you must do so through your state’s designated agency. Your state will assess your eligibility and determine the appropriate program(s) for you. It’s recommended to apply regardless of whether you believe you meet the qualifications.
Eligibility Parameters for the Four Medicare Savings Programs
Generally speaking, eligibility for a Medicare Savings Program is dependent on your income and assets being below specified thresholds. These thresholds are subject to annual adjustments. It’s possible to be eligible for these programs even if your income or assets exceed the set limits. Some states may exclude certain types or amounts of income or assets when determining eligibility.
Qualified Medicare Beneficiary (QMB) Program
Aids with the costs of: Part A premiums; Part B premiums, deductibles, coinsurance, and copayments (for covered services and products provided by Medicare).
Specified Low-Income Medicare Beneficiary (SLMB) Program
Contributes to: Part B premiums (Eligibility requires enrollment in both Part A and Part B).
Qualifying Individual (QI) Program
Assists with: Part B premiums (Enrollment in both Part A and Part B is necessary for eligibility).
Qualified Disabled & Working Individual (QDWI) Program
Supports payment for: Part A premiums exclusively.
Discover more about the Medicare Savings Programs on the official Medicare.gov website here:
