A Medicare savings program is a special program offered through Medicaid to help pay for a patient’s Medicare premiums. These programs are typically based on income levels and help to cover both medical costs and prescription drugs. Medicare savings programs will typically cover part B Medicare premiums and also helps with other out-of-pocket expenses. There are four types of Medicare savings programs that one might qualify for. These are Qualified Medicare Beneficiary or QMB, Specified Low-Income Medicare Beneficiary, or SLMB, Qualified Individual, or QI and Qualified Disabled and Working Individual, or QDWI. In order to qualify for any of these Medicare savings programs, the patient must meet certain income and asset requirements. These requirements will determine which of the four types of programs the patient will be eligible for.
Medicare Savings Program Definition
Last Updated Jan. 10th, 2017 by RKT