The Medicare Savings Program can reduce or eliminate monthly premiums for your Medicare Part B plan. You may qualify for help to pay your Medicare Part B expenses if you are elderly or disabled with low income and limited assets.
The savings from the Medicare Savings Program can really add up. If you qualify, you could receive:
Whether you qualify and exactly how much help you will receive will depend on your income and assets. You can use benefitscheckup.org to see if you might qualify. Benefitscheckup.org is a free, online benefits calculator provided by the National Council on Aging.
Keep in mind that assets include things like cash, savings and checking accounts, certificates of deposit, or U.S. savings bonds. When calculating your assets you should not count: 1) a home you live in, 2) your car (if you only own one), 3) any burial space you may have purchased, 4) your personal belongings and household goods, or 5) life insurance if the face value of all policies is $1,500 or less.
It is important to apply even if you think your income or assets are slightly above the guidelines. The Area Agency on Aging 1-B’s MMAP Program can assist you with the application.
For one-on-one assistance, please call us at (800) 803-7174.