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Quick senior link–
How can I lower my Medicare costs?
As we all know, being on Medicare doesn’t
mean receiving free medical care. There are costs that beneficiaries must pay
out-of-pocket. Each month some of these costs are taken out of Social Security
checks automatically.
The good news is that there are programs,
called the Medicare Savings Programs, that save millions of people hundreds of
dollars each year
Q: What
are the Medicare Savings Programs?
A: The term Medicare Savings
Programs refers to four programs, each with different benefits, yet the same
intent – to improve access to health care services for low-income elderly and
disabled Americans and to make them more financially secure. Here is a summary
of each program:
• The Qualified Medicare Beneficiary (QMB)
Program pays Medicare Part B premiums ($54 per month in 2002; $58.70 beginning
in 2003). The program also pays for other out-of-pocket expenses like
deductibles and coinsurance, which can save beneficiaries hundreds of dollars
each year. To be eligible for the program, you must be enrolled or be eligible
to enroll in Medicare Part A and Part B, and you must meet income and asset
requirements. Income for a single person cannot be more than $759 per month with
assets limited to $10,000. Income for a couple cannot be more than $1,015 per
month with assets limited to $18,000. If you are working, you may qualify even
if your income exceeds these guidelines.
• The Service Limited Medicare Beneficiary
(SLMB) Program pays Medicare Part B premiums. To be eligible for the program,
you must be enrolled or be eligible to enroll in Medicare Part A and Part B, and
you must meet income and asset requirements. Income for a single person cannot
be more than $906 per month with assets limited to $10,000. Income for a couple
cannot be more than $1,214 per month with assets limited to $18,000. If you are
working, you may qualify even if your income exceeds these guidelines.
• The Qualifying Individual 1 (QI-1) Program
pays the Medicare Part B premiums. To be eligible for the program, you must be
enrolled or be eligible to enroll in Medicare Part A and Part B, and you must
meet income and asset requirements. Income for a single person cannot be more
than $1,017 per month with assets limited to $10,000. Income for a couple cannot
be more than $1,364 per month with assets limited to $18,000. If you are
working, you may qualify even if your income exceeds these guidelines.
• The Qualifying Individual 2 (QI-2) Program
pays for a portion of Medicare Part B expenses ($3.91 per month in 2002) for
Medicare beneficiaries. Due to federal law, the QI-2 Program ended effective on
December 31, 2002.
Q: How can I apply for the Medicare
Savings Programs?
A: The Medicare Savings Programs are
administered by the county human services office.
Once you receive your application, one-on-one
assistance is available to complete the paperwork. Staff and volunteers
certified by the Minnesota Board on Aging as health insurance counselors can
help. To take advantage of this service, call the Senior LinkAge Line®.
For more information about any of these
programs, to request applications or to learn about other assistance that may be
available to help you pay for your prescriptions, call the Senior LinkAge Line®
at 1-800-333-2433.
Quick Senior Link items are taken from frequent
calls to the Senior LinkAge Line®, a free service that connects seniors to
programs or services that they need. Call 1-800-333-2433 or visit www.mnaging.org.
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