Your Guide to Medicare Savings Program Opportunities

The Medicare Savings Program (MSP) is a helpful resource for many health insurance enrollees. Depending on the benefits you need to receive, you could be required to pay for your Medicare support. If you are like many individuals, these costs could be prohibitive. However, the Medicare cost savings program aims to reduce the financial burden you must carry to receive this insurance.

The Medicare Savings Program MSP is an important service you should learn more about. Contrary to what the name would suggest, there are actually four separate programs you can enroll in. It is important that you understand how these networks differ so you know which one you qualify for.

What is the Medicare Savings Program?

Before you submit your Medicare Savings Program application, you need to understand which of these networks you can collect from. To better determine this, you must make sure you know who each of these programs support.

Specified Low Income Medicare Beneficiary Program

The Special Low Income Medicare Beneficiary (SLMB) Program helps cover the costs associated with your Medicare Part B enrollment. If you qualify for the Medicare SLMB program, your state can help cover your premium costs for this part. In order to receive support through this program, you must have:

  • Monthly income that totals within $1,269, if you are applying as an individual.
  • Monthly income that totals within $1,711, if you are applying as a married couple.
  • Resources that are within $7,730, if you are applying as an individual.
  • Resources that are within $11,600, if you are applying as a married couple.

Qualified Medicare Beneficiary QMB Program

The Qualified Medicare Beneficiary Program (QMB) is another support system you may be able to enroll in. With this program, you could obtain financial support to help cover your Medicare Part A or B premiums.

If you are still wondering, “What is the Medicare Savings Program QMB?” remember that you could also use your benefits from this program to cover your deductible, copayments or coinsurance. However, keep in mind that you must meet the program’s financial qualifications in order to receive benefits. In the majority of states, these include:

  • If you are an individual, your monthly income limit is $1,061.
  • If you are part of a married couple, your monthly limit is $1,430.
  • If you are an individual, your personal resources must be within $7,730.
  • If you are part of a married couple, your collective resources must be within $11,600.

Qualifying Individual Program

The Qualifying Individual Program (QI) covers Medicare Part B premiums. However, it works slightly different than the other MSP options. This is because prospective applicants need to apply for benefits each year. If you want to enroll in the QI Medicare Savings Program, you need to move quickly. This program is available to applicants on a first-come, first-serve basis. However, applicants who previously received benefits through the Medicare QI program are given priority for enrollment. Additionally, prospective enrollees need to remember that they cannot receive QI if they are eligible to collect Medicaid benefits.

Furthermore, remember that there are financial limitations regarding who can enroll in the QI Medicare Savings Program. For example, in most states:

  • A single applicant may not have a monthly income that exceeds $1,426.
  • A married couple cannot have a monthly income that exceeds $1,923.
  • Single applicants may not have resources that exceed $7,730.
  • Married applicants may not have resources that exceed $11,600.

Qualified Disabled and Working Individuals QDWI Program

The Qualified Disabled and Working Individuals QDWI Program covers Medicare Part A premiums for enrollees. This program also has categorical requirements that enrollees must meet to receive benefits.

For example, you can only enroll in the QDWI Program if you:

  • Are younger than 65 years of age and are working while disabled.
  • Do not receive medical support from the state you live in.
  • Meet your state’s financial eligibility requirements.
  • Previously received free Medicare Part A but lost it when you returned to work.

The QDWI Medicare Savings Program also requires you to meet financial criteria in order to enroll. For example, most states impose the following limits:

  • Your monthly income must be within $4,249 if you are applying by yourself.
  • Your monthly income must be within $5,722 if you are applying with your spouse.
  • Your personal resources must be within $4,000 if you are applying by yourself.
  • Your married resources must be within $6,000 if you are applying with your spouse.

What does the Medicare Savings Program cover?

Medicare Savings Program benefits vary by program. Some networks only cover the costs associated with Medicare Part A. Others only pay the premium for Part B. To avoid confusion, make sure you sign up for the program that can best assist you.

Do I qualify for the Medicare Savings Program?

You need to take into account the Medicare Savings Program income guidelines for each individual program to determine if you are eligible to enroll. Additionally, make sure you adhere to any supplemental enrollment requirements you need to meet. Each program maintains its own eligibility criteria.

How to Apply for the Medicare Savings Program

You can easily access a Medicare Savings Program PDF application online. You need to fill out this form and submit it in order to be considered for enrollment. Alternatively, you can contact your state Medicare program representatives and speak with a worker about your candidacy.

This site is not affiliated with the SSA or any other government services.