Medicare Savings Programs
What it is:
Medicare Savings Programs help Medicare recipients pay for all or part of their Medicare premiums.
Who is eligible:
Medicare recipients who meet income and resource requirements.
- Qualified Medicare Beneficiary Program (QMB)
- Specified Low-Income Medicare Beneficiary Program (SLMB)
- Qualified Individual(QI-1) Program
Resource requirements for cost-sharing programs:
For any of the cost-sharing programs your resources (assets) must be under $7,080 for an individual and $10,620 for a couple.
Examples of resources:
- Bank accounts
- Certificates of deposits
- Savings bonds
- Real property (except the home you live in)
- Recreational vehicles
Qualified Medicare Beneficiary (QMB) Program
QMB pays your Part B Medicare premium, and the cost, if any, of your Part A premium. QMB also pays your Medicare co-payments and deductibles. To be eligible your income must be no more than:
- $958 per month for one person, or
- $1,293 per month for a couple
Specified Low-Income Medicare Beneficiary (SLMB)& Qualified Individual(QI-1) Program: The Part B premium is ...
- Specified Low-Income Medicare Beneficiary (SLMB):
- $1,149 per month for one person, or
- $1,551 per month for a couple
- Qualified Individual(QI-1) Program:
- $1,293 per month for one person, or
- $1,745 per month for a couple