Medicare Savings Programs — MSP
Medicare Savings Programs are state-run programs that help pay Medicare premiums and sometimes deductibles and copays for people with limited income.
Official source: medicare.gov
Medicare Savings Programs are special programs from your state. They help people with Medicare pay for some of their healthcare costs. This includes your monthly payments for Medicare, called premiums. For some people, these programs can also help pay for other costs like deductibles and copays. A deductible is an amount you pay before Medicare starts to pay. A copay is a small payment you make each time you get a medical service. This means you have more money to spend on important things like food and housing. These programs are for people who have Medicare and also have a low income. This means how much money you make each month is below a certain amount. They can also help if you have some money saved, but not a lot. Each state has its own rules for how much income and savings you can have to get help. If you qualify, these programs can save you a lot of money on your healthcare. This makes it easier to get the medical care you need. You can find out more by contacting your local State Health Insurance Assistance Program, or SHIP. They can tell you if you qualify and how to apply.
In real life
- A retiree with $1,400 a month in income may have their Part B premium paid through an MSP.
- Sarah, who only gets Social Security, uses an MSP to help pay for her doctor visits and some medications.
- When John's health needs went up, his MSP helped cover his Medicare Part A deductible so he didn't have to pay it all himself.
Also known as
Take the next step
Frequently asked questions about Medicare Savings Programs
What is Medicare Savings Programs?+
Medicare Savings Programs are state-run programs that help pay Medicare premiums and sometimes deductibles and copays for people with limited income.
Who qualifies for Medicare Savings Programs?+
Most people 65+, plus some younger people with qualifying disabilities or end-stage renal disease.
How do I apply for Medicare Savings Programs?+
Most people are enrolled automatically at 65. To pick a plan or sign up manually, go to medicare.gov or call your free SHIP counselor. Official forms and instructions: https://www.medicare.gov/basics/costs/help/medicare-savings-programs.
Where can I get help?+
Call your free State Health Insurance Assistance Program (SHIP) for one-on-one Medicare counseling at no cost, or compare plans at medicare.gov.
Source: medicare.gov