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Medicare Savings Programs (help from Medicaid paying Medicare premiums)
What is this program?
States have programs for people with limited income and resources that pay Medicare Premiums and, in some cases, may also pay Medicare Part A and Part B Deductible and Coinsurance. These programs help millions of people with Medicare save money each year.
Who qualifies for this program?
- You must have Medicare Part A. The Medicare Savings Program may pay your Part A or Part B premiums.
- You must be an individual with resources of $4,000 or less, or a married couple with resources of $6,000 or less. Resources include things like money in a checking or savings account, stocks, and bonds, but don't include things like your house or car.
- You must be an individual with a monthly income of less than $1,169, or a married couple with a monthly income of less than $1,561. Income limits will increase slightly in 2008. If you live in Alaska or Hawaii, income limits are slightly higher.
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Individual states may have higher income and/or resource limits. Check with your State Medical Assistance (Medicaid) office. Also, certain types of income and resources aren't counted, so you should still apply even if you think your income and resources are above the limit. It's the only way to be sure if you qualify.
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How do I apply for this program?
Call your State Medical Assistance (Medicaid) office (see 1-800-MEDICARE Helpline). Since the names of these programs may vary by state, ask for information on Medicare Savings Programs. It's very important to call if you think you qualify for any of these programs, even if you aren't sure. Visit www.medicare.gov on the web, or call 1-800-MEDICARE (1-800-633-4227) to get the telephone number for your state. TTY users should call 1-877-486-2048.
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(Primary Source: Centers for Medicare and Medicaid Services - Medicare and You Handbook 2007. This content may have been added upon by Q1Group LLC to include further examples, explanations, and links.)
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Last updated on: 07/05/2009
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Life Insurance plays an important role in your families financial stability.
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