| Thu, Jul 14, 2016 @ 09:00 AM

Medicare Costs Got You Down? You May Qualify for Financial Help

Posted by Medicare Made Clear

senior-medicare-costsDo you have trouble paying your monthly Medicare premiums or other Medicare costs? If you have limited income and assets, you may qualify for help with medical costs for care you receive under Medicare. Your income includes money you get from retirement benefits or other money that you report for tax purposes. The income eligibility levels vary by state and program.

Below are a few financial assistance programs that may be available to you if you meet the eligibility requirements.

  • Medicaid helps pay costs not covered by Original Medicare (Part A and Part B). It may also include some added benefits that Original Medicare doesn’t cover, including prescription drugs, eye care or long-term care. Learn more about Medicare and Medicaid.
  • The Medicare Savings Program helps you pay your Original Medicare premiums, deductibles and coinsurance. Learn more about the Medicare savings program.
  • The Centers for Medicare and Medicaid Services (CMS) started a national assistance program called the State Health Insurance Assistance Program (SHIP). The focus of this health benefits counseling service is to provide information about Medicare coverage and financial assistance programs. If you qualify for Medicare, you qualify for this service. Learn more about SHIP.
  • Programs of All-Inclusive Care for the Elderly (PACE) combines medical, social and long-term care services for people over the age of 55 who meet the qualifications to receive nursing home care, but live and get their services in the community. This program is not available in all states. Learn more about PACE.
  • Extra Help is a Medicare program that helps people with limited income and resources pay for Medicare prescription drug plan costs, such as premiums, deductibles and coinsurance. Extra Help’s qualified beneficiaries pay some or all Medicare Part D premiums, deductibles, copays and coinsurance. Learn more about Extra Help.
  • Other programs may be available in your state, such as State Pharmaceutical Assistance Programs (SPAP). Find out if your state is on the list.

To learn more, contact Social Security at 1-800-772-1213, TTY 1-800-325-0778, 7 a.m. to 7 p.m. local time, Monday through Friday. You can also call your state Medical Assistance, the Medicaid office or the State Health Insurance Assistance Program (SHIP) where you live.

For more information, explore MedicareMadeClear.com or contact the Medicare helpline 24 hours a day, seven days a week at 1-800-MEDICARE (1-800-633-4227), TTY 1-877-486-2048.

Resources:

SHIP Programs by State: Look up your state’s SHIP program. (SeniorsResourceGuide.com)

Medicare Made Clear: Information, tools and resources to help you make informed Medicare decisions. (MedicareMadeClear.com)

Medicare.gov: Visit the official U.S. government site for Medicare.

 

Y0066_150408_131030 Accepted