Medicare Savings Programs can ease the burden of the cost of health care to many. These programs are covered by state dollars, so the requirements for assets and income is up to the state where you reside. A federal standard does exist as well. It's kind of like a blue print.
- QMB: Qualified Medicare Beneficiary Individual Monthly Income Limit: $1153 Married Couple Monthly Income Limit: $1546 Individual Resource Limit: $8400 Married Couple Resource Limit: $12,600 *Program helps with, Part A premiums, part B premiums, deductibles, coinsurance, and copayments for services and items that Medicare covers.
- SLMB: Specified Low-Income Medicare Beneficiary Program Individual Monthly Income Limit: $1379 Married Couple Monthly Income Limit: $1851 Individual Resource Limit: $8400 Married Couple Resource Limit: $12,600 *Program helps with part B premiums only
- QI: Qualifying Individual Individual Monthly Income Limit: $1549 Married Couple Monthly Income Limit: $2080 Individual Resource Limit: $8400 Married Couple Resource Limit: $12,600 *Program helps with part B premiums only. This is a state program and you have to apply for QI every year. QI applications are granted on a first-come, first-served basis with priority given to people who got QI benefits the previous year.
- QDWI: Qualified Disabled and Working Individuals Individual Monthly Income Limit: $4615 Married Couple Monthly Income Limit: $6189 Individual Resource Limit: $4000 Married Couple Resource Limit: $6000 *Program helps with part A premiums only NOTE- If you qualify for QMB, SLMB, or QI, you automatically qualify to get extra help paying for Medicare drug coverage.
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***IMPORTANT*** The qualifications for income and resource limits may go up every year, so if your income and resources are a little higher, you should still apply.
MSP COUNTS RESOURCES: Money in a checking or savings account, Stocks, and Bonds
MSP DOES NOT COUNT: Your Home, One Car, Burial Plot, Up to $1500 for burial expenses, Furniture
How to apply online: https://www.medicare.gov/talk-to-someone Select your state Select "other resources"
All numbers from medicare.gov for 2022 on the Medicare website.www.calendly.com/mamabearmedicare www.facebook.com/mamabearmedicare www.instagram.com/mamabearmedicare https://www.tiktok.com/@mamabearmedicare