Saving on Medicare Premiums

The Medicare Savings Program Can Help You Save on Premiums

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.

How Much Can You Save?

The savings from the Medicare Savings Program can really add up.  If you qualify, you could receive:

• Help paying your monthly Medicare premium
• Help paying your annual Medicare Part B deductible
• Up to 20% of the approved costs that you would usually have to pay for care out-of-pocket after reaching your Part B deductible

How Will You Know if You Qualify?

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’s Important to Apply

It is important to apply even if you think your income or assets are slightly above the guidelines. our Medicare Assistance Program can assist you with the application.

Call Us!

For one-on-one assistance, please call us at (800) 803-7174.