Lumaktaw sa pangunahing content

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:

  1. 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.
  2. Specified Low-income Medicare Beneficiary (SLMB): Pays for Medicare Part B premium.
  3. 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
Mga etiketa:

Mga Komento

Mag-post ng isang Komento

Mga sikat na post sa blog na ito

Durable Medical Equipment and Medicare

Medicare   Part B  covers the D urable Medical Equipment (DME).   These are equipment that serves a medical purpose, able to withstand repeated use, and is appropriate for use in at home.  There are many important things to know about Medicare’s coverage for DME. Below are pieces of information that will help you know whether/how you are covered. Eligible equipment Medicare’s DME benefit does not cover all medical equipment.  Medicare only covers DME if your  provider  says it is  medically necessary for use in the home . You also must order your DME from suppliers who contract with  Original Medicare  or your  Medicare Advantage  Plan . However, Medicare Advantage Plans may have additional requirements you need to meet before your DME is covered. DME coverage Depending on what type of equipment you need, Medicare will require that you either rent or buy DME. There are also special rules when you need oxygen equipment...
Mag-post ng isang Komento
Magbasa nang higit pa

Medicare and Hospital Discharged Planning

Hospital  discharge  planning is a process that determines what kind of care you will need after you leave the hospital. This discharge plans can help prevent future readmissions , and they should make your move from the hospital to your home or another facility as safe as possible. Medicare  requires hospitals to screen  inpatients  and provide discharge p lanning for those who need it. But this  is only mandatory for hospital inpatients, if you are an  outpatient, possibly  on  observation status,   Medicare will not require screening or discharge planning. However, there are some states that provide outpatients with rights to discharge planning services. For more information on discharge planning in your state, please contact your  State Health Insurance Assistance Program (SHIP) . Your  discharge plan  should include information about where you will be discharged to, the types of care you need, and who will provi...
Mag-post ng isang Komento
Magbasa nang higit pa

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...
Mag-post ng isang Komento
Magbasa nang higit pa