Medicare Savings Programs

Medicare Savings Programs help low-income people afford some of Medicare’s out-of-pocket costs, including Medicare Part A and Part B premiums, deductibles, copayments and coinsurance.

Each Medicare Savings Program has its own eligibility requirements, which can vary by state.

If you qualify for a Medicare Savings Program, you automatically qualify for the Extra Help prescription drug program to limit out-of-pocket medication costs.

To apply to a Medicare Savings Program, visit the Medicare website for a list of contact information.

After you apply, you should receive a decision within 45 days of the date of your application.

Typically, your assets and resources must be limited to qualify for a Medicare Savings Program.

Medicare considers stocks, bonds, Individual Retirement Accounts (IRAs) and money in your checking or savings account as part of your total resources.

However, other assets do not count toward this total.

There are a few important exceptions to keep in mind.

Under the Qualified Medicare Beneficiary (QMB) program, Medicare providers won’t charge you for any Medicare-covered services or items.

You also automatically qualify for the Extra Help prescription drug program.

If you earn a little too much to qualify for the QMB program, you may meet the income and resource criteria for the Specified Low-Income Medicare Beneficiary (SLMB) program.

This program helps cover Part B premiums. You also automatically qualify for the Extra Help program.

The Qualifying Individual (QI) program helps cover Part B premiums for those who don’t qualify for Medicaid. It also automatically qualifies you for the Extra Help prescription drug program.

You must apply every year for QI benefits. Acceptance is granted on a first-come, first-served basis.

Disabled people under age 65 who recently returned to work and are no longer eligible for premium-free Part A Medicare coverage may qualify for the Qualified Disabled and Working Individuals (QDWI) program.

Unlike other savings programs, QDWI only covers Medicare Part A premiums.