MEDICARE SAVINGS PROGRAM (MSP)

Medicare Savings Programs are federally funded program administered by each state. These programs are for people with limited income and resources and help pay some or all of the Medicare premiums, deductibles, co-payments and coinsurance.

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There are three major Medicare Savings Programs:

• Qualified Medicare Beneficiary (QMB)
• Specified Low-Income Medicare Beneficiary (SLMB)

• Qualifying Individual (QI)

 

Below are general requirements for the MSP:

• Reside in a state or the District of Columbia,
• Are age 65 or older,
• Receive Social Security Disability benefits,or

•People with certain disabilities or permanent kidney failure (even if under age 65)

• Meet standard income and resource requirements.

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Medicare offers several Medicare Savings Programs (MSPs) that assist people with low income and assets:

 

​Qualified Medicare Beneficiary (QMB)

Pays Part A Premium, Part B Premium, Part A & B Deductibles, Part   A & B Coinsurance

Income: Up to $1,025/mo Single, $1,374/mo Couple

Assets: Up to $7,390 Single, $11,090 Couple

 

Specified Low-Income Medicare Beneficiary (SLMB)

Pays Part B Premium

Income: Up to $1,226/mo Single, $1,644/mo Couple • Assets: Up to $7,390 Single, $11,090 Couple

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Qualified Individual (QI)

Pays Part B Premium

Income: Up to $1,377/mo Single, $1,847/mo Couple

Assets: Up to $7,390 Single, $11,090 Couple