Are you eligible for
programs that help lower Medicare costs?
Here are some programs
that may be available to help lower Medicare costs:
- Medicare Savings
Programs (MSPs): MSPs are state-run programs that help low-income individuals
pay for their Medicare premiums and other costs. Eligibility and benefits vary
by state and income level.
- Extra Help
(Low-Income Subsidy) for Part D: Extra Help is a federal program that helps
low-income individuals pay for their Part D prescription drug costs, including
premiums, deductibles, and copayments.
- Medicaid: Medicaid is
a joint federal and state program that provides health coverage to low-income
individuals and families, including some Medicare beneficiaries. Medicaid may
cover some Medicare costs, such as premiums and cost-sharing.
- State Pharmaceutical
Assistance Programs (SPAPs): SPAPs are state-run programs that provide
financial assistance to help cover the cost of prescription drugs for eligible
individuals.
To be eligible for
these programs, you must meet certain income and asset limits. Eligibility and
benefits vary by program and state. It's always a good idea to check with the
program or a licensed Medicare agent to determine if you may be eligible for
assistance with your Medicare costs.
