Medicare Savings Programs help seniors save money

Lately, if you feel like you broke the bank grocery shopping but have nothing to show, you are not alone.

Costs for basic needs like shelter, food, and gas are steadily inching higher while the average senior’s fixed income is not.

While you may not be able to change the rising costs, you may be able to apply for programs that will help you save money that you can use for other needs. The Medicare Savings Programs use Medicaid funds to help eligible persons pay for all or some of their out-of-pocket Medicare expenses. If you have low income, you may be eligible for your state to pay your part B premium. This could put around $134 back into your income. If your income is under 100 percent Federal Poverty Level, your state may pay the Part B premium and pick up other expenses like co pays, deductibles and coinsurance. You may apply for three main Medicare Savings Programs. Below are the names, descriptions, and income limits for each program.

Gross income below Single-$1,010 or Married-$1,355 - The Qualified Medicare Beneficiary Program (QMB) pays for Part B premiums, deductibles, coinsurance and co payments.

Gross income below Single-$1,208 or Married-$1,622 - The Specified Low Income Medicare Beneficiary Program (SLMB) pays for Part B premiums only.

Gross income Below Single-$1,357 or Married-$1,823 - The Qualified Income Program (QI) pays for Part B Premiums only.

You can apply for these programs at any time during the year and they will not affect any current coverage that you have. These programs are not attached to the Medicaid Estate Recovery Program and they will not try to recoup any of the funds they spent when you pass away. You can apply online at yourtexasbenefits. com, by fax, or in person at your local Health and Human Services office.

If you have questions about the programs or need help filling out an application, you can speak to a certified Benefits Counselor at Ark-Tex Area Agency on Aging by calling 1-800-372-4464.