Medicare Savings Program (MSP)
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.[1]
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.
Citations
- Medicare Savings Programs. Medicare.Gov.