Medicare Savings Programs (MSPs) are federally funded state-based programs that can help lower Part A and Part B costs like premiums, deductibles, and coinsurance based on income and resources.
There are four different types of Medicare Savings Programs based on income, resources, and in some cases qualifying life circumstances or conditions:
- Qualified Medicare Beneficiary (QMB) Program: helps pay Part A and Part B premiums and cost-sharing.
- Specified Low-Income Medicare Beneficiary (SLMB) Program: helps pay Part B premiums for people who have Part A.
- Qualifying Individual (QI) Program: helps pay Part B premiums for people who have Part A.
- Qualified Disabled and Working Individuals (QDWI) Program: helps pay the Part A premium.
You can see the current income-limits and other qualifications at Medicare.Gov.
FACT: If you qualify for the QMB, SLMB, or QI, you automatically qualify for the Extra Help program.
- Medicare Savings Programs. Medicare.Gov.