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Medicare is not free. Most beneficiaries pay a monthly Part B premium of $174.70, plus deductibles and copayments that can add up to thousands per year. For seniors on fixed incomes, these costs are a serious burden.
Medicare Savings Programs (MSPs) are state programs that pick up some or all of Medicare cost-sharing. An estimated 7 million Medicare beneficiaries who qualify are not enrolled.
The Four Medicare Savings Programs
Qualified Medicare Beneficiary (QMB)
Pays Part A and Part B premiums, deductibles, coinsurance, and copays. Providers cannot bill you for any cost-sharing. Income limit: up to $1,275/month for individuals, $1,724/month for couples.
Specified Low-Income Medicare Beneficiary (SLMB)
Pays your Part B premium only. Income limit: up to $1,526/month for individuals, $2,063/month for couples.
Qualifying Individual (QI)
Also pays the Part B premium. Income limit: up to $1,715/month for individuals, $2,320/month for couples. Enrollment is first-come, first-served each year.
Qualified Disabled and Working Individuals (QDWI)
For working people under 65 with disabilities who lost Medicare after returning to work. Pays Part A premiums.
Bonus: Automatic Extra Help
Enrolling in any MSP automatically qualifies you for Medicare Extra Help — worth up to $5,900/year on prescription drugs. MSP enrollment often saves far more than just the premium.
How to Apply
Apply through your state Medicaid office online, by phone, or in person. Your Medicare card and a recent bank statement are typically all you need. Call Social Security at 1-800-772-1213 for help. Coverage is retroactive to the month you applied.
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