Medicare Savings Program CT
If you would like some information on Medicare Savings Program CT, you should read this post. The Medicare Savings Programs (MSP), has multiple levels called QMB (qualified Medicare beneficiary), SLMB (specified low income medicare beneficiary) as well as ALMB (additional low income Medicare beneficiary). As you can see, there can be many confusing terms used for the same program. We hope this will help you sort it out a little. All are programs that can help qualified individuals pay for both their Medicare premiums and drug costs. In fact, QMB will also help you by paying your Medicare coinsurance as well as your deductibles.
Who is eligible for the Medicare Savings Program CT
If you are eligible for Medicare Part A and your income is below the program limit, you could be eligible for one of CT’s Medicare assistance programs. Eligibility for the programs is determined by the amount of your annual adjusted gross income. The amount of your assets will not matter when determining your eligibility. However, any money being drawn out of a qualified retirement plan such as an IRA will count as income in the year it is taken. Individuals with income below $2,472.30 a month are eligible for MSP at the ALMB level. Couples under $3,328.38 are also eligible.
Benefits of Medicare Savings Program CT
MSP does more than pay the monthly part B Medicare premium. Depending on the level of help, the program can reduce drug copays, pay monthly part D drug premiums (up to the benchmark) create a special election period and pay medical copays. (QMB level and higher)
Single vs. Couple Medicare Savings Program CT
If a couple is married, the income of both spouses is considered. They are not able to qualify as an individual. Any Medicare Part B premium deductions you have will also count towards your income. Even though the part B premium is being pulled out of your Social Security check, it still counts as income.
Re-determination of Medicare Savings Program CT
Those on MSP will need to re-certify for the program on an annual basis. Failure to fill out the re-determination notice will result in removal from the program.