Can You Get Help Paying for Medicare? What to Know About Extra Help and Savings Programs

Paying for Medicare can be challenging, but there’s good news: help is available! Let’s explore the different programs that can make your Medicare coverage more affordable.

What is Extra Help?

Extra Help (also called the Low-Income Subsidy or LIS) is a program that helps pay for your Medicare prescription drug coverage. Think of it as a special discount card for your medications!

What Extra Help Covers

• Part D premiums
• Deductibles
• Copayments
• Coverage gap costs

Did You Know? In 2024, Extra Help can save you up to $5,000 per year on your prescription drug costs!

Who Qualifies for Extra Help?

Income Limits (2024)

• Single: Up to $22,590 per year
• Married: Up to $30,660 per year

Resource Limits (2024)

• Single: Up to $17,220
• Married: Up to $34,360

Note: These limits include:

• Money in checking and savings accounts
• Stocks and bonds
• Real estate (other than your home)
• Life insurance policies

What are Medicare Savings Programs (MSPs)?

MSPs are state programs that help pay for Medicare costs. There are four types:

1. Qualified Medicare Beneficiary (QMB)

• Pays for Part A and Part B premiums
• Covers deductibles, coinsurance, and copayments
• Income limit: $1,235/month (single) or $1,663/month (married)

2. Specified Low-Income Medicare Beneficiary (SLMB)

• Pays for Part B premium only
• Income limit: $1,478/month (single) or $1,992/month (married)

3. Qualifying Individual (QI)

• Pays for Part B premium only
• Income limit: $1,660/month (single) or $2,239/month (married)

4. Qualified Disabled and Working Individuals (QDWI)

• Pays for Part A premium only
• For people under 65 who are working

How to Apply for Help

Applying for Extra Help

1. Online Application

   • Visit ssa.gov
   • Click “Apply for Extra Help”
   • Complete the form

2. Phone Application

   • Call Social Security at 1-800-772-1213
   • TTY users: 1-800-325-0778

3. In-Person Application

   • Visit your local Social Security office
   • Bring required documents

Applying for Medicare Savings Programs

1. Contact Your State

   • Call your State Medical Assistance Office
   • Visit your local Department of Social Services
   • Check your state’s website

2. Required Documents

   • Proof of income
   • Bank statements
   • Medicare card
   • Social Security card
   • Proof of residence

Real-Life Example: Mary, 68, was struggling to pay for her medications. After applying for Extra Help, her monthly drug costs dropped from $300 to $10!

Common Questions

”Will I lose my Medicare coverage if I get help?”

No! These programs are designed to work with your existing Medicare coverage. They just help pay for it.

”Do I need to reapply every year?”

• Extra Help: Usually automatic renewal
• MSPs: May need annual renewal
• Always check your mail for renewal notices

”What if my income changes?”

• Report changes to Social Security
• You might qualify for more help
• Or you might need to pay more

Tips for Applying

1. Gather Documents Early

   • Recent tax returns
   • Pay stubs
   • Bank statements
   • Investment records

2. Ask for Help

   • Family members
   • Friends
   • Local senior center
   • Medicare counselors

3. Keep Records

   • Application copies
   • Approval letters
   • Denial letters
   • Appeal information

Need Help Applying?

At MedStar Insurance Agency, we can help you:

• Understand if you qualify
• Find the right programs
• Complete applications
• Appeal if needed
• Understand your benefits

Contact us today to get personalized help with your Medicare assistance applications. We’ll make sure you get all the help you’re entitled to!

Remember: These programs exist to help you. Don’t be afraid to ask for assistance - that’s what they’re there for!