How do Medicare Savings Programs help with Medicare costs?

Question

Justin Sonon · Accepted Answer

Medicare Savings Programs (MSP) can help people with limited income cover their Medicare premiums, deductibles and other costs like co-insurance. This is also known as a Medicare Buy-In program. 

Eligibility can be vary by state. Extra help with Medicare Part D drug costs can by applied for simultaneously with the MSP. Income and resources can also vary by state, however most states use income and resource limits based on the Federal Poverty Level (FPL).

Types of MSPs include:

Qualified Medicare Beneficiary (QMB) which helps pay for Part A and B premiums, and covers cost- sharing for Medicare-covered services.

Specified Low-Income Medicare Beneficiary (SLMB) which helps pay for Part B premiums.

Qualified Individual (QI) which helps pay for Part B premiums.

Qualified Disabled Working Individual (QDWI) which helps part Part A premiums for individuals under age 65 who a disabled and have returned to work recently.

You can apply through your State Medical Assistance office (Medicaid).

Larry Dalton · Answer

Medicare savings programs, known as MSPs, can qualify you for extra services and benefits. These services may help reduce Medicare Part A and Part B premiums, deductibles, and coinsurance payments and assist with Medicare Part D drug plans.

Answered by Larry Dalton on April 10, 2025

Broker Licensed in OK & TX

Answered by Larry Dalton Medicare Insurance Agent

Ben Washington · Answer

You get qualified by your state to help individuals with limited means cover some or all of their out-of-pocket Medicare expenses. like your Medicare Premium Payment Programs, offer financial assistance to pay your Part B Premium as well.

Answered by Ben Washington on April 16, 2025

Broker Licensed in IL, FL, MN, SC, TX & WI

Answered by Ben Washington Medicare Insurance Agent

Sherry Rose · Answer

Medicare Savings Programs (MSPs) are state-run programs that help people with limited income and resources pay for some or all of their Medicare costs. These programs can significantly reduce out-of-pocket expenses for eligible individuals. Here’s how they help:

1. Pay Medicare Part B Premiums
All MSPs help pay for the monthly premium for Medicare Part B, which covers doctor visits and outpatient services. In 2025, this premium is typically $174.70/month.

2. Cover Deductibles, Coinsurance, and Copayments
Some MSPs also cover:

Medicare Part A (hospital insurance) premiums (if applicable)

Part A and Part B deductibles

Coinsurance and copayments for services

3. Qualify Automatically for Extra Help with Prescription Drugs
If you're enrolled in an MSP, you automatically qualify for Extra Help, a program that reduces prescription drug costs under Medicare Part D.

Deb Haley · Answer

Medicare Savings Programs help eligible medicare beneficiaries with the cost of their Part B premium. In Massachusetts the program is called Mass Buy-In and the depending on which level of the program someone qualifies for there may be additional help with things like copays.

Answered by Deb Haley on May 27, 2025

Broker Licensed in MA, CT, FL & 10 other states

Answered by Deb Haley Medicare Insurance Agent

Clare Burley · Answer

Yes the MSP definitely help with Medicare costs! There are different levels of MSP and what you qualify for will depend on your income level.

Fred Manas · Answer

Medicare Savings Programs (MSPs) help individuals with limited income and resources pay for Medicare costs, including premiums, deductibles, coinsurance, copayments, and prescription drug expenses. These programs, also known as Medicare Buy-In Programs or Medicare Premium Payment Programs, are designed to alleviate the financial burden of Medicare for those who need it. 
Here's how they work:
They cover premiums: MSPs help cover the monthly Part A and/or Part B premiums, depending on the specific program. 
They reduce out-of-pocket costs: They may help pay for deductibles, coinsurance, and copayments for Medicare-covered services. 
They help with prescription drug costs: MSPs often automatically qualify individuals for Extra Help, a program that assists with Medicare Part D (prescription drug) costs. 
They can help with extra expenses:
In some cases, MSPs can also help with other health-related expenses beyond standard Medicare costs, such as vision or dental care. 
Types of Medicare Savings Programs:
Qualified Medicare Beneficiary (QMB): Helps with Part A and Part B premiums, deductibles, coinsurance, and copayments. 
Specified Low-Income Medicare Beneficiary (SLMB): Helps with Part B premiums and automatically qualifies for Extra Help. 
Qualifying Individual (QI): Helps with Part B premiums and automatically qualifies for Extra Help. 
Eligibility:
Eligibility for MSPs is determined by income and resources, and each program has specific thresholds. The specific requirements vary by state and can be found on the Medicare website or by contacting your local Medicaid office. 
In summary: Medicare Savings Programs are designed to make Medicare more affordable for low-income individuals by helping them with premiums, out-of-pocket costs, and prescription drug expenses, according to the Social Security Administration.

Steve Brauer · Answer

The Medicare Savings Program or MSP, is a program that helps lower-income seniors with help paying for things like Part A and Part B premiums, copays, co-insurance and other out of pocket costs. There are many "levels" of help that people can get, all based on your income level.

Answered by Steve Brauer on April 13, 2025

Broker Licensed in AZ & CA

Answered by Steve Brauer Medicare Insurance Agent

Gary Henderson · Answer

Medicare savings programs do not work with Medicare plans. They only work with under 65 medical healthcare plans

Vachik Chakhbazian · Answer

help people with limited income and resources pay for some or all of their Medicare costs, including premiums, deductibles, and coinsurance. are designed to ease the financial burden of Medicare for low-income beneficiaries.

Answered by Vachik Chakhbazian on May 25, 2025

Agent Licensed in CA, AL, AR & 22 other states

Answered by Vachik Chakhbazian Medicare Insurance Agent

Jerry Cohen · Answer

The Medicare Savings Program is a Medicaid-administered program that can assist people with limited income in paying for their Medicare premiums. Depending on income, the MSP may also pay for other cost-sharing expenses. When you enroll in an MSP, you will also automatically get Extra Help, the federal program that helps pay most your Medicare prescription drug (Part D) plan costs. There is no resource test for the MSP programs. This means many Medicare beneficiaries who may not qualify for Medicaid because of excess resources can qualify for an MSP.

Answered by Jerry Cohen on April 28, 2025

Broker Licensed in NY

Answered by Jerry Cohen Medicare Insurance Agent

Chuck Winslow · Answer

Medicare Savings Programs (MSPs) are special programs that help people with limited income and resources pay for some or all of their Medicare costs. These programs can help cover:

Medicare Part B premiums (which most people pay monthly)

Deductibles

Coinsurance

Copayments


There are four types of Medicare Savings Programs, and eligibility is based on income and assets. If someone qualifies, it could save them hundreds—or even thousands—of dollars each year.

Also, qualifying for an MSP automatically enrolls you in Extra Help, which helps cover prescription drug costs.

Ceranes Lejulus · Answer

The Medicare Prescription Payment Plan is a voluntary payment option for managing out-of-pocket prescription drug costs, allowing a client to spread payments across the year instead of paying the pharmacy directly.

Answered by Ceranes Lejulus on April 9, 2025

Broker Licensed in FL, AL, AR & 19 other states

Answered by Ceranes Lejulus Medicare Insurance Agent

Kimberly Griego · Answer

The Medicare Savings Program helps with Medicare Part A and B premiums, deductibles, coinsurance, and copayments, depending on the level a person qualifies for. From a prescription drug standpoint, it reduces costs significantly for your higher level tier 3 - 5 medications.

Answered by Kimberly Griego on April 16, 2025

Agent Licensed in WA, AZ, CA & 5 other states

Answered by Kimberly Griego Medicare Insurance Agent

Mark Szymanski · Answer

Medicare Savings Programs are income based. Medicare Savings Programs (MSPs) help individuals with limited income and resources pay for certain out-of-pocket costs associated with Medicare, such as premiums, deductibles, and coinsurance. These programs, managed by Medicaid in each state but funded by the federal government, aim to make Medicare more affordable for those who need it most.

Answered by Mark Szymanski on April 10, 2025

Agent Licensed in PA & NJ

Answered by Mark Szymanski Medicare Insurance Agent

Jaime Avery · Answer

There are actually 4 types of Medicare Savings Programs and how they help, depends on which program you're eligible for.  Your eligibility is generally based on your income and might vary by state as well.  

Typically, Medicare Savings Programs help to lower or to cover your premiums.  They are also set up to help lower or cover  deductibles, coinsurance, and the cost of prescription drugs.  They are beneficial for both young adults and older adults who might not qualify for Medicaid so I encourage you to speak with your agent and get clarity on which program will work best for your specific needs.

How do Medicare Savings Programs help with Medicare costs?

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