What is a Medicare Savings Program?
If you have limited resources or live on a fixed income, you might wonder whether you can afford an Original Medicare or Medicare Advantage plan. The good news is your state has resources for this, if you meet the income criteria. Medicare Savings Programs can cover items such as plan premiums, copays, deductibles and more.
There are four levels of savings programs, each with its own criteria for income and resources. The first program, QMB, has the lowest income limit and offers the greatest amount of coverage. The income limits increase, with the QDWI program at the highest threshold.
Qualified Medicare Beneficiary (QMB) Program
Specified Low-Income Medicare Beneficiary (SLMB) Program
Qualifying Individual (QI) Program
Qualified Disabled and Working Individuals (QDWI) Program