Medicare Savings Programs (MSPs)

Medicare Savings Programs (MSPs), also known as Medicare Buy-In or Medicare Premium Payment Programs, help pay your Medicare costs if you have limited income and savings. There are three main programs, each with different benefits and eligibility requirements.

Qualified Medicare Beneficiary (QMB): Pays for Medicare Parts A and B premiums. If you have QMB, typically you should not be billed for Medicare-covered services when seeing Medicare providers or providers in your Medicare Advantage Plan’s network.

Specified Low-income Medicare Beneficiary (SLMB): Pays for Medicare Part B premium.

Qualifying Individual (QI) Program: Pays for Medicare Part B premium. If you enroll in an MSP, you will also automatically get Extra Help, the federal program that helps with the cost of your Medicare prescription drug (Part D) plan costs.

Qualifying for Medicare Savings Programs

To qualify for an MSP, you must have Medicare and meet income and asset guidelines, which vary from state to state. We highly recommend that you contact a licensed professional who can walk you through the process and complete a personal assessment that will help you make a well-informed decision. Please contact our medicare advisors for a free, no-obligation consultation.