Could you be saving money?

Many people could be saving money on premiums and prescriptions, and don’t even know it. Recently, a 90-year-old woman in Oklahoma came to her local State Health Insurance Counseling and Assistance Program (SHIP) because she was unable to pay for her prescriptions and her Medicare Part D premium.

A counselor at the SHIP helped her apply for Extra Help and found her a new Part D plan that better fit her needs. Now she spends no money on her premium and very little on her prescriptions – saving her thousands of dollars over the course of the year. She is just one of many people that can save money – and you could be one too.

Medicare Savings Programs

If your monthly income is less than $1,277 ($1,723 as a couple), you may be able to save money with these 4 different Medicare Savings Programs that help pay for premiums and more:

  • Qualified Medicare Beneficiary (QMB) Program
  • Specified Low-Income Medicare Beneficiary (SLMB)
  • Qualified Individual (QI) Program
  • Qualified Disabled and Working Individuals (QDWI)

Each program has a different monthly income limit – get more information about the 2012 limits and how to find out if you qualify.

Extra Help

Many people with limited income and resources may qualify for Medicare’s “Extra Help” program, but they must apply to find out. You could be one of them. You may qualify if you have up to $16,755 in yearly income ($22,695 for a married couple) and up to $13,070 in resources ($26,120 for a married couple). Get more information about Medicare’s “Extra Help” program.

You can get help with Part D prescription drug coverage premiums, deductibles and copayments. This means you don’t have to go without medications because you can’t afford them, and can get help just like our 90-year-old friend in Oklahoma.

It’s easy and free to apply for “Extra Help.”

Save money, live well, and share the information.