Your state may be able to help you pay your Medicare premiums. Medicare Savings Programs may also pay Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance).
If you meet certain conditions, you may not have to pay deductibles, coinsurance, or copayments.
There are four kinds of 4 kinds of Medicare Savings Programs.
– Qualified Medicare Beneficiary (QMB) Program
– Specified Low-Income Medicare Beneficiary (SLMB) Program
– Qualifying Individual (QI) Program
– Qualified Disabled and Working Individuals (QDWI) Program
Even if your income exceeds the income limits for these 4 programs, you may qualify for these programs if you have income from work.
What items are included in the Medicare Savings Program resource limits?
Countable resources include:
– Money in a checking or savings account
– Stocks
– Bonds
Countable resources don’t include:
– Your home
– One car
– Burial plot
– Up to $1,500 for burial expenses if you have put that money aside
– Furniture
– Other household and personal items
To apply call your State Medicaid Program to see if you qualify for a Medicare Savings Program in your state.