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Are You Eligible for a Medicare Savings Program?
Do you have trouble paying monthly health care costs? Medicare has several special programs that may help you save $648 or more per year. Surveys have found the vast majority of seniors don't know about them. Here are three to consider: - Qualified Medicare Beneficiary Program (QMBP). If your income in 2002 is $9,108 or less for an individual, or $12,180 or less for a couple, this program pays all or part of Medicare premiums ($54.00 in 2002), deductibles and co-insurance. Your state covers these costs through its Medicaid program, but you don't have to be on Medicaid to qualify.
- Specified Low-Income Medicare Beneficiary Program (SLMB). This program has higher income limits. If your income in 2002 is $10,872 or less for an individual, or $14,568 or less for a couple, your state will pay your monthly Medicare Part B premium.
- Qualified Individual Program-1 (QI-1). Your state also pays your Medicare Part B premium under this program but the income limits are higher still. You may be eligible if your income in 2002 is $12,204 or less for an individual or $16,368 or less for a couple. Some states have capped the amount they will spend on this program and there may be waiting lists.
To qualify for these programs, your savings must be $4,000 or less for an individual or $6,000 or less for a couple. But some states, including the state of New York, have waived these asset requirements for certain programs. Read “Social Security Administration Misinforms Over a Million Low-Income and Older New Yorkers about Right to Assistance for Medicare Premiums” at http://www.tscl.org/NewContent/101627.asp. It pays to find out if this is the case in your state. When figuring your savings, your home, a car, burial plots, up to $15,000 for burial expenses, furniture or $1,500 worth of life insurance are not counted. Here are tips on how to apply from the Medicare Rights Center: - Visit your local Medicaid office to fill out an application and schedule an interview. (Medicare Savings Programs are administered at Medicaid offices.)
- Bring your Social Security number, Medicare card, proof of identity (like a birth certificate), proof of residence, and information about all income and savings to the interview. Bring any bank statements, stock certificates, life insurance policies, or proofs of employment.
- Be prepared, informed, and persistent. Many Medicaid staff members lack information about these Medicare Savings Programs, but as long as you meet eligibility requirements, you are entitled to enroll in these programs and get the assistance you need to help pay for your health care.
- You should expect to receive written notification of your acceptance status within 45 days of applying. If you do not receive notification within this time, contact the Medicaid office where you applied.
For more information call 1-800-MEDICARE (1-800-633-4227). Ask for information on Medicare Savings Programs. The Medicare Rights Center (MRC) is a national, not-for-profit consumer service organization that works to ensure that older adults and people with disabilities receive good, affordable health care. For more information about the Medicare Rights Center visit their web site at http://www.medicarerights.org. Updated 8/02/02
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