Medicare Nation

Today’s topic is the Medicare Savings Program. It can help you pay part of your Medicare premiums. It’s based on certain criteria of your income and resources.   2016 Medicare Savings Programs:   Resources include stock, bonds, 401K, IRA.   It does not include your home, 1 vehicle and other personal items.     4 Levels of Coverage:   QDWI Plan: (Qualified, Disabled, and Working Individual) Monthly income limit - $4045 (Married $5425)  Resource limit - $4000 (Married $6000)       QI Plan: (Qualifying Individual)   Monthly income limit: $1357 (Married $1823) Resource limit: $7280 (Married $10,930) Pays Part B Premium - $104.90 New to Medicare - $121.80     Specified Low Income Medicare Beneficiary Program (SLIM-B)   Monthly income limit: $1208 (Married $1622) Resource limit: $7280 (Married $10,930) Pays Part B Premium - $104.90 New to Medicare - $121.80     Qualified Medicare beneficiary (QMB)   Pays Part A, Part B Premium, Deductibles, Co-pays Monthly income limit: $1010 (Married $1355) Resources limit: $7280