Medicare Savings programs are designed to provide limited financial help to certain persons receiving Medicare. These are needs-based programs that, if one is qualified, will pay a portion of the person’s monthly Medicare costs.
QMB = Qualified Medicare Beneficiary program includes the payment of Medicare Part A and Part B premiums and annual deductible, and payment of co-insurance and deductible amounts for both Part A and Part B. (Note: does not include medigap premiums).
QMB max monthly income, single $1025.00
QMB, max monthly income, couple $1374.00
SLMB = Specified Low Income Medicare Beneficiaries program pays the Part B monthly premium only.
SLMB max monthly income, single $1377.00
SLMB max monthly income, couple $1847.00
While help with a premium ranging between $104.90 – $134.00/month may not seem like much, to those living on less than $1400/month, it represents ten percent of their income and can help substantially.
This article is written by an attorney at Wyatt & Mirabella, PC. Always consult an attorney before making any legal decisions. To make an appointment today for a free consultation, please click here to contact us.