Three Programs That Help Seniors With Medicare Costs
If you or a family member have limited income and have trouble paying Medicare premiums and out-of-pocket costs, Medicare Savings Programs may help. If you qualify, you may get help paying for your Medicare premiums and deductibles and coinsurance if your income and savings meet the limits. In addition, you automatically qualify for Extra Help paying the costs of Medicare prescription drug coverage.
To qualify, you must meet your state's income and asset guidelines. You may qualify if your income in 2012 was at or below the income and resource limits listed below.
| Medicare Savings Program | Individual Monthly Income Limit in 2012* | Married Couple Monthly Income Limit in 2012* | Helps Pay
|
| Qualified Medicare Beneficiary (QMB)
Asset Limits |
$951
$6,940 |
$1,281
$10,410 |
Part A premiums
Part B premiums Deductibles, coinsurance, and copayments |
| Specified Low-Income Medicare Beneficiary (SLMB)
Asset Limits |
$1,137
$6,940 |
$1,533
$10,410 |
Part B premiums only |
| Qualifying Individual (QI)
Asset Limits |
$1,277
$6,940 |
$1,723
$10,410 |
Part B premiums only |
*Income amounts generally increase each year.
Even if your income or assets are slightly higher than the guidelines, you should still apply. That's because certain kinds of resources may not be counted. States figure your income and assets differently, so you may be eligible in your state. When determining eligibility, your countable assets include checking or savings accounts, stocks and bonds. Your home, and one car, will not be counted.
To learn more about the programs contact your local Medicaid office or call 1-800-MEDICARE (1-800-633-4227) and ask about programs, that help pay for your Medicare premiums.
Online visit: www.Medicare.gov
