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What Is a Medicare Savings Program?

what is a medicare savings program?
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Medicare is the best resource for many seniors as it provides much-needed healthcare coverage. However, if you earn a low income and have limited resources, you may find that some of the out-of-pocket costs that come with Medicare may be too costly for you to handle.

Fortunately, there are resources available to you in the state you reside. These resources are known as Medicare Savings Programs.

The Medicare Savings Program (MSP) is a program that helps people with limited resources and funds to pay off their Medicare premiums, deductibles, copayments, and coinsurance.

 

Medicare Savings Program Qualifications


The Medicare Savings Program is not open to everyone under the Original Medicare Plan. However, if you meet any of these requirements, you may qualify for the MSP.

● You have or are eligible for Medicare Part A.
● Your income falls below or is at the income limit for any of the four Medicare Savings Programs listed below.
● You have limited resources that are below or at the program limits.

 

About The Author

Dale Wondisford, Medigap Agent

13 Years experience helping hundreds of families get the best insurance policy to meet their needs.

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