Today's topic is the Medicare Savings Program. It can help you pay part of your Medicare premiums. It's based on certain criteria of your income and resources.

 

2016 Medicare Savings Programs:

 

Resources include stock, bonds, 401K, IRA.

 

It does not include your home, 1 vehicle and other personal items.

 

 

4 Levels of Coverage:

 

QDWI Plan: (Qualified, Disabled, and Working Individual)

Monthly income limit - $4045 (Married $5425) 

Resource limit - $4000 (Married $6000)

 

 

 

QI Plan: (Qualifying Individual)

 

Monthly income limit: $1357 (Married $1823)

Resource limit: $7280 (Married $10,930)

Pays Part B Premium - $104.90

New to Medicare - $121.80

 

 

Specified Low Income Medicare Beneficiary Program (SLIM-B)

 

Monthly income limit: $1208 (Married $1622)

Resource limit: $7280 (Married $10,930)

Pays Part B Premium - $104.90

New to Medicare - $121.80

 

 

Qualified Medicare beneficiary (QMB)

 

Pays Part A, Part B Premium, Deductibles, Co-pays

Monthly income limit: $1010 (Married $1355)

Resources limit: $7280 (Married $10,930)

 

 

How to Apply:

 

1. Go online to www.ssa.gov. Click "Benefits", then "Extra Help for RX Drugs", look on right side for "Application".
2. Go to the Social Security office (find locations on ssa.gov) to apply
3. Go through your state Medicaid Program - Google "medicare" and your state

 

It may take 4-6 weeks for them to send you an acceptance/rejection letter.

 You have to re-qualify annually.

 

Questions? 

 

Call SSA at 800-772-1212

Email me: [email protected]

Call me: 855-855-7266

 

Do you have questions or feedback? I'd love to hear it!

I may answer one of your questions on the air!

email me:

[email protected]

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Find out more information about Medicare on Diane Daniel's website!

www.CallSamm.com