Medicare and its Savings Program

Medicare Savings Programs is also known as Medicare Buy-In programs or Medicare Premium Payment Programs, this helps you pay your Medicare costs if you have limited income and savings.

There are three main programs each with different benefits and eligibility requirements:

Qualified Medicare Beneficiary (QMB): Pays for Medicare Parts A and B premiums. If you have QMB, typically you should not be billed for Medicare-covered services when seeing Medicare providers or providers in your Medicare Advantage Plan’s network.
Specified Low-income Medicare Beneficiary (SLMB): Pays for Medicare Part B premium.
Qualifying Individual (QI) Program: also pays for Medicare Part B premium.

If you will enroll, you will also automatically get Extra Help.

To qualify for an MSP, you must have Medicare Part A and meet income and asset guidelines. If you do not have Part A but you meet the QMB eligibility guidelines, your state may have a process to allow you to enroll in Part A and QMB. Many states allow this throughout the year, but others limit when you can enroll in Part A.

NOTE: These guidelines vary by state, and some states do not count assets when determining MSP eligibility.

Also, remember that in determining your eligibility for an MSP, States use different rules to count your income and assets.

Examples of income include wages and Social Security benefits you receive. Examples of assets include checking accounts and stocks. Certain income and assets may not count when determining your MSP eligibility. And some states do not have an asset limit.

If your income or assets seem to be above the MSP guidelines, you should still apply if you need the help.

Qualified Disabled Working Individual (QDWI)

It is the fourth MSP and pays for the Medicare Part A premium. To be eligible for you must:

Be under age 65
Be working but continue to have a disabling impairment
Have limited income and assets
And, not already be eligible for Medicaid

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Medicare Part D Costs for 2020

Before 2006, Medicare did not cover prescription medications. There was a limited number of medications that were offered under Medicare Part Band, and otherwise, you had to pay for your medications out of pocket. In 2003, everything had changed when President George W. Bush passed the Medicare Prescription Drug, Improvement, and Modernization Act (MMA). This is what we now know of as Medicare Part D , an optional part of Medicare that provides prescription drug coverage. Part D plans are run by private insurance companies and not by the government. However, the federal government sets guidelines on what basic medications are covered and how much you can be charged. A deductible is the amount of money you spend out of pocket before your prescription drug benefits begin. Your plan may or may not have a deductible. The maximum deductible a plan can charge for 2020 is set at $435. It has increased by $20 from 2019. Part D

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Benefit Period

The benefit period is the length of time during which a benefit is paid. It measures your use of inpatient hospital and skilled nursing facility (SNF) services. This begins the day you are admitted as an inpatient, or to an SNF, and ends the day you have been out of the hospital or SNF for 60 days in a row. After you meet your deductible , Original Medicare will pay in full for days 1 to 60 that you are in a hospital. The remaining days, 61-90 , you will have to pay a daily coinsurance. If your 90 days of hospital coverage has been consumed but you need to stay longer, Medicare covers up to 60 additional lifetime reserve days and yo u will also have to pay a daily coinsurance . These days are nonrenewable , meaning you will not get them back when you become eligible for another benefit period. If you run out of days during your benefit period, Medicare will stop paying for your in-patient related hospital costs such as room and board. To be eligible for a new b

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Comparing Health Care Providers

How do I compare the quality fo Health Care Providers? Medicare collects information about the quality and safety of medical care and services given by most health care providers (and facilities). Check Medicare.gov/quality-care-finder and get a snapshot of the quality of care they give their patients. Some feature a star rating system to help you compare quality measures that are important to you. Find out more by: Talking to your health care provider. Each health care provider should have someone you can talk to about quality. Asking your doctor or other health care provider what he or she thinks about the quality of care other providers give. You can also ask your doctor or other health care provider about the quality of care information you find on Medicare.gov . Having access to quality and cost information upfront helps you get a complete picture of your health care options. You'll be able to compare quality ratings, cost information, and other details to hel

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