If paying for Medicare Part A and Part B premiums feels overwhelming, you are not alone. Many people with limited income and resources qualify for programs that help cover these costs. Let us explore the options available and how you can get the help you need.
What programs help with Medicare Part A and Part B premiums?
Several government programs assist people who cannot afford their Medicare premiums. These programs are part of the Medicare Savings Programs (MSPs) and are run by state Medicaid offices.
- Qualified Medicare Beneficiary (QMB) Program: Covers Medicare Part A and Part B premiums, deductibles, coinsurance, and copayments.
- Specified Low-Income Medicare Beneficiary (SLMB) Program: Helps pay for Medicare Part B premiums.
- Qualifying Individual (QI) Program: Also covers Medicare Part B premiums but on a first-come, first-served basis.
- Qualified Disabled and Working Individuals (QDWI) Program: Covers Medicare Part A premiums for certain individuals with disabilities.
Each program has specific eligibility requirements based on your income and resources.
How do you know if you qualify for help?
Eligibility for Medicare Savings Programs depends on your income and financial resources. Each state sets its own guidelines, but here are some general criteria:
- Income: You must have a limited monthly income, though the exact threshold varies by state. For 2024, the federal poverty level is often used as a benchmark.
- Resources: This includes savings, investments, and property, excluding your home, car, and personal belongings.
If you think you might qualify, do not hesitate to apply. Even if your income or resources are slightly above the limit, you may still be eligible.
Where do you apply for assistance?
The first step is to contact your state’s Medicaid office or local medical assistance office. A representative can guide you through the process and explain the specific requirements for your state.
- Online resources: Many state Medicaid offices have online applications and helpful information.
- In-person help: You can visit a local Medicaid office for one-on-one assistance.
- Phone support: Call your state’s Medicaid office or the Medicare helpline at 1-800-MEDICARE for guidance.
What documents do you need to apply?
When applying for a Medicare Savings Program, you will need to provide proof of your income, resources, and Medicare enrollment. Be prepared with:
- Recent pay stubs or Social Security benefit statements.
- Bank account statements.
- Proof of other resources like stocks or bonds.
- A copy of your Medicare card.
Having these documents ready can speed up the application process.
Can Social Security help with Medicare premiums?
Yes, Social Security administers another program called Extra Help to assist with Medicare Part D prescription drug costs. Additionally, if you qualify for a Medicare Savings Program, Social Security can coordinate the automatic deduction of premium payments from your monthly benefits.
What happens after you apply?
Once you submit your application, the state will review your eligibility. If approved, they will notify you and begin covering your Medicare premiums and possibly other costs. Keep an eye out for letters or emails confirming your benefits.
