Some individuals may have a difficult time affording monthly Medicare costs due to financial circumstances. Luckily, there are further options to help with these costs. There are four different types of Medicare Savings Programs, each of which are provided by the state. The state will assist in covering medical costs.

What are the different types of Medicare Savings Programs?

There are four types of Medicare Savings Programs. These are:

• Qualified Medicare Beneficiary (QMB)
• Specified Low-Income Medicare Beneficiary (SLMB)
• Qualifying Individual (QI)
• Qualified Disabled and Working Individual (QDWI)

What are the Medicare Savings Programs accounting for?

Medicare Savings Programs are tailored to lower-income individuals and married couples based on the amount of monthly income earned. Each program has different monthly income requirements, value of resources, and life circumstances. Each program poses different benefits.

Resources are valued based on what a person/couple has in their bank account (both checking and savings), stocks, and bonds. Disability and employment are also taken into consideration.

What are the requirements and benefits of each program?

Qualified Medicare Beneficiary (QMB)

• Monthly income – $1084 or less for individuals; $1457 or less for married couples
• Resources – $7860 or less for individuals; $11,800 or less for married couples
• Benefits – Helps pay for Medicare Parts A and/or B premiums, deductibles, copayments, and other costs covered by Medicare. You cannot be billed for these. If you are billed, and you pay, then you are entitled to your money back. This excludes Part D. However, Part D medication costs will be no greater than $3.90 for a medication listed on your prescription drug plan’s formulary. 

Specified Low-Income Medicare Beneficiary (SLMB)

• Monthly income – $1296 or less for individuals; $1744 or less for married couples
• Resources – $7860 or less for individuals; $11,800 or less for married couples
• Benefits – Helps pay for Part B premiums

Qualifying Individual (QI)

• Monthly income – $1456 or less for individuals; $1960 or less for married couples
• Resources – $7860 or less for individuals; $11,800 or less for married couples
• Benefits – Helps pay for Part B premiums for those who are enrolled in Part A

Qualified Disabled and Working Individual (QDWI)

• Monthly income – $4339 or less for individuals; $5833 or less for married couples
• Resources – $4000 or less for individuals; $6000 or less for married couples
• Benefits – Helps pay for Part A premiums

You must meet these additional requirements in order to qualify for the QDWI program:

• Under 65, disabled and employed
• You had premium-free Part A, but became disenrolled when you became employed again
• Not getting any other form of medical assistance provided by the state
• You meet the income and resource limits set by your state

If you have any questions…

We are here to assist you with any inquiries you may have regarding Medicare and the various aspects of it. We won’t let any question go unanswered. We will address all concerns you have because at Sannes Insurance, we are dedicated to your needs.

Call us at (509) 993-9887 for more information.