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The idea of a savings
program is appealing to Samuel. However, he is not sure if he and his
wife qualify. Samuel asks Doris if there are requirements or limitations
for participating in a Medicare Savings Program. Doris reviews the following
information with Samuel:
Basic
Information
There are programs
that help millions of persons with Medicare save money each year. Individual
states have programs for people with limited income and resources that
pay Medicare premiums. Some programs also pay Medicare
deductibles and coinsurance.
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You can apply for
these savings programs if:
- You have Medicare
Part A. (If you must pay for Part A but cannot afford it, there is
a program that may pay the Medicare Part A premium
for you.)
AND
- You are an individual
with resources of $4,000 or less or a couple with resources of $6,000
or less. Resources include money in a checking or savings account, stocks,
bonds, etc.
AND
- You are an individual
with a monthly income of less than $1,091* or a couple with a monthly
income of less than $1,464.*
* Income limits may change slightly each year.
If you live in Alaska or Hawaii, income limits are slightly higher.
Important
Tips
- Call your state
medical assistance office to obtain more information on Medicare Savings
Programs, even if you are not sure you qualify. Individual states may
have more generous income and/or resource requirements.
- You can obtain
the phone number of your state medical assistance office by calling
1-800-MEDICARE, logging on to www.medicare.gov, or looking in the Medicare
& You handbook.
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