MEDICARE SAVINGS PROGRAMS (MSP)

Question 1

What are the Medicare Savings Programs (MSPs)?

Answer 1

Medicare Savings Programs (MSPs) are federally funded, state-administered programs that help people with limited income and resources pay for part or all of their Medicare copayments, deductibles, premiums, and coinsurance. There are four types of Medicare Savings Programs:
1. Qualified Medicare Beneficiary.
2. Specified Low-Income Medicare
Beneficiary (SLMB)
3. Qualifying Individual (QI) Program
4. Qualified Disabled and Working
Individuals (QDWI) Program

Question 2

What is the Qualified Medicare Beneficiary (QMB) Program?

Answer 2

Qualified Medicare Beneficiary (QMB) Program: Helps pay for Part A premiums, Part B premiums, deductibles, coinsurance, and copayments for services and items Medicare covers. The monthly income limit for 2023 is $1,235 for an individual and $1,663 for a married couple. The resource limit is $9,090 for an individual and $13,630 for a married couple.

Question 3

What is the Low-Income Medicare Beneficiary (SLMB) Program?

Answer 3

Specified Low-Income Medicare Beneficiary (SLMB) Program: Helps pay for Part B premiums. You must have both Part A and Part B to qualify. The monthly income limit for 2023 is $1,478 for an individual and $1,992 for a married couple. The resource limit is $9,090 for an individual and $13,630 for a married couple.

Question 4

What is the Specified Low-Income Medicare Beneficiary (SLMB) Program?

Answer 4

Specified Low-Income Medicare Beneficiary (SLMB) Program: Helps pay for Part B premiums. You must have both Part A and Part B to qualify. The monthly income limit for 2023 is $1,478 for an individual and $1,992 for a married couple. The resource limit is $9,090 for an individual and $13,630 for a married couple.

Question 5

What is the Qualifying Individual (QI) Program?

Answer 5

Qualifying Individual (QI) Program: Helps pay for Part B premiums. You must apply every year for QI benefits and the applications are granted on a first-come, first-served basis.

Qualified Disabled and Working Individuals (QDWI) Program: Helps pay the Part A premium. You may qualify if you’re a working disabled person under 65, lost your premium-free Part A when you went back to work, aren’t getting medical assistance from your state, and meet the income and resource limits.

Please note that the specifics of these programs will depend on your individual circumstances, so it’s always a good idea to check with Medicare or a trusted advisor to understand your options.

Question 6

What is the Qualified Disabled and Working Individuals (QDWI) Program?

Answer 6

Qualified Disabled and Working Individuals (QDWI) Program: Helps pay the Part A premium. You may qualify if you’re a working disabled person under 65, lost your premium-free Part A when you went back to work, aren’t getting medical assistance from your state, and meet the income and resource limits