What is a Medicare Savings Program?

What this means

• The three Medicare Savings Programs most older adults encounter are QMB, SLMB, and QI. A fourth, QDWI, covers a narrower group of working people with disabilities under 65.
• QMB, the Qualified Medicare Beneficiary program, pays the Part B premium and protects you from most Medicare cost sharing.
• SLMB, the Specified Low-Income Medicare Beneficiary program, pays the Part B premium only.
• QI, the Qualifying Individual program, also pays the Part B premium, but it is funded from a limited pot and must be reapplied for each year.
• Approval for QMB, SLMB, or QI automatically gives you Extra Help for your prescription drugs.

What to do first

1. Apply through your state Medicaid office. Ask for the Medicare Savings Program application by name, not for regular Medicaid.
2. Ask your State Health Insurance Assistance Program counselor to help you fill out the form, at no cost.
3. Ask whether your state has dropped or raised its asset limit, because several states no longer count savings at all.
4. Apply even if you think you earn slightly too much, since some income is not counted.

What you'll need

• Income information for you and your spouse
• A list of your medications and their doses
• Social Security number
• Medicare card
• Social Security award letter
• Proof of address
• Statements for stocks, bonds, or retirement accounts
• Bank statements
• Bank account balances
• Proof of income for everyone in the household
• Your current plan information

Where to go

• Medicare Savings Programs (QMB, SLMB, QI): https://www.medicaid.gov/about-us/where-can-people-get-help-medicaid-chip
• Extra Help with Medicare Prescription Drug Costs (Low-Income Subsidy): https://www.ssa.gov/locator
• SHIP: Free, Unbiased Medicare Counseling: https://www.shiphelp.org/SHIPs/