| Do you worry month to month how you will | | | | How to Qualify for One of the Four Medicare |
| cover your medical expenses? Are you | | | | Savings Programs (MSP) |
| concerned about paying your monthly Medicare | | | | |
| premiums and still meeting your other financial | | | | To help you understand what each program |
| needs? You may qualify for one of four state-run | | | | offers and what it takes to qualify, here is a chart |
| Medicare Savings Programs for people with limited | | | | which provides more details. |
| income and resources. These program help pay | | | | |
| some or all of Medicare's premiums. In addition, | | | | Medicare Savings Program |
| they may pay Medicare deductibles and | | | | Single Monthly Income Limit |
| coinsurance. | | | | Couples Monthly Income Limit |
| | | | | Helps to Pay for… |
| The Four Medicare Savings Programs | | | | QMB |
| "It might seem nearly impossible for those with | | | | $903 |
| low incomes to carve out additional money from | | | | $1,215 |
| an already tight monthly budget," says Alan | | | | Part A and Part B premiums and other costs like |
| Weinstock, insurance broker at "So states have | | | | deductibles, coinsurance and copayments |
| four programs that help pay for Medicare Part A | | | | SLMB |
| (hospital insurance) and/or Medicare Part B | | | | $1,083 |
| (medical insurance) premiums." | | | | $1,457 |
| | | | | Part B premiums only |
| The programs include: | | | | QI |
| | | | | $1,219 |
| - Qualified Medicare Beneficiary (QMB) | | | | $1,640 |
| - Specified Low-Income Medicare Beneficiary | | | | Part B premiums only |
| (SLMB) | | | | QDWI |
| - Qualifying Individual (QI) | | | | $1,805 |
| - Qualified Disabled & Working Individuals | | | | $2,428 |
| (QDWI) | | | | Part A premiums only |
| | | | | |
| Medicare Part A is free to those who qualify. Part | | | | For each program your resource limit (Monthly |
| B premiums, on the other hand, are tied to your | | | | Income Limit, i.e., MIL) is $4,000 for singles and |
| annual income and whether you are a current | | | | $6,000 for couples. Resources include money in a |
| Medicare beneficiary. | | | | checking or savings account, stocks and bonds. |
| | | | | Resources don't include your home, car, burial plot, |
| If you're new to Medicare or don't have your Part | | | | up to $1,500 for burial expenses, furniture or |
| B premiums automatically taken from your Social | | | | other household items. The asset limits are the |
| Security checks, the 2010 premium is $110.50 per | | | | same for all programs. |
| month for single taxpayers with an income of | | | | |
| $85,000 or less. If you already have Medicare, | | | | Weinstock, whose offers Medigap insurance to |
| your premiums are deducted from your Social | | | | Medicare beneficiaries in California notes, "Even if |
| Security checks and you make $85,000 or less, | | | | you are working, you may qualify for benefits. |
| your premiums should stay at the current rate of | | | | Many states figure income and resources |
| $96.40 for 2010. | | | | differently, so you may be eligible in your state |
| | | | | even if you think you exceed the limits." |
| In addition, if you qualify for QMB, SLMB, or QI, | | | | |
| you automatically qualify for extra help paying the | | | | Call 1-800-MEDICARE (1-800-633-4227) and ask |
| costs of Medicare prescription drug coverage. | | | | about getting help paying for your Medicare |
| | | | | premiums. TTY users should call 1-877-486-2048. |