The Medicare Savings Program (MSP) is a state-administered program that helps low-income Medicare beneficiaries pay for some or all of their Medicare Part A and Part B costs, including premiums, deductibles, coinsurance, and copayments. These programs are designed to assist individuals with limited income and resources.
Types of Medicare Savings Programs
There are four types of MSPs, each with different income and asset limits:
1. Qualified Medicare Beneficiary (QMB) Program
- Covers:
- Medicare Part A and Part B premiums
- Deductibles, coinsurance, and copayments
- Eligibility Criteria:
- Individual income limit (2024): $1,235/month
- Married couple income limit (2024): $1,663/month
- Asset limit: $9,430 (individual), $14,130 (couple)
2. Specified Low-Income Medicare Beneficiary (SLMB) Program
- Covers: Medicare Part B premium
- Eligibility Criteria:
- Individual income limit (2024): $1,478/month
- Married couple income limit (2024): $1,992/month
- Asset limit: $9,430 (individual), $14,130 (couple)
3. Qualifying Individual (QI) Program
- Covers: Medicare Part B premium
- Eligibility Criteria:
- Individual income limit (2024): $1,660/month
- Married couple income limit (2024): $2,239/month
- Asset limit: $9,430 (individual), $14,130 (couple)
- Note: Limited funding is available, and applications are processed on a first-come, first-served basis.
4. Qualified Disabled & Working Individuals (QDWI) Program
- Covers: Medicare Part A premium
- Eligibility Criteria:
- Individual income limit (2024): $4,945/month
- Married couple income limit (2024): $6,659/month
- Asset limit: $4,000 (individual), $6,000 (couple)
- Eligibility: Available to certain disabled individuals under 65 who lost premium-free Medicare Part A due to returning to work.
Who is Eligible?
To qualify for an MSP, you must:
- Be enrolled in Medicare Part A
- Meet income and asset limits (varies by state)
- Be a U.S. citizen or a legal resident
How to Apply?
You can apply for the Medicare Savings Program through your state’s Medicaid office. Applications are typically available online, by phone, or in person. You may need to provide proof of income, assets, and Medicare enrollment.
Additional Benefits
- If you qualify for an MSP, you automatically qualify for Extra Help, a program that helps pay for Medicare Part D (prescription drug) costs.
- MSPs reduce out-of-pocket healthcare costs, making healthcare more affordable for low-income individuals.
Would you like help finding the application process for your state?
