Medicare gives you important health coverage, but the costs can sometimes feel heavy—especially with premiums, copays, deductibles, and prescriptions. The good news is, there are programs that can help pay for some or even most of these expenses. Many people don’t realize they qualify for extra financial help, and these programs can make a big difference in your budget.
Let’s look at the main programs available:
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1. Qualified Medicare Beneficiary (QMB) Program
* Helps pay for: Medicare Part A and Part B premiums, deductibles, coinsurance, and copayments.
* This means if you’re in QMB, most of your Medicare costs are covered, and you won’t be billed for services covered by Medicare.
Who qualifies?
* People with limited income and resources.
* Income and asset limits vary by state, so it’s best to check with your local Medicaid office.
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2. Specified Low-Income Medicare Beneficiary (SLMB) Program
* Helps pay for: Medicare Part B premium only.
* Even though it doesn’t cover all costs, this still saves you money each month by paying your Part B premium.
Who qualifies?
* Slightly higher income than QMB, but still limited.
* Again, eligibility depends on your state’s rules.
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3. Low-Income Subsidy (LIS), also called Extra Help
* Helps pay for: Medicare Part D prescription drug plan costs.
* Covers monthly premiums, annual deductible, and lowers copays for prescriptions.
Why it matters:
* If you take several medications, this program can save you thousands of dollars a year.
Who qualifies?
* People with limited income and resources.
* Social Security reviews your application and determines your eligibility.
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4. Other State Programs
Some states have additional programs to help cover Medicare costs, such as help with drug plans or extra assistance with out-of-pocket expenses.
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How to Apply
* Contact your local Medicaid office to apply for QMB or SLMB.
* Apply through Social Security for the Extra Help (LIS) program.
* A licensed Medicare broker (like us) can guide you step by step and check which programs you may qualify for.
Why This Matters
If you’re struggling with Medicare costs, you are not alone. Many seniors qualify for these programs but don’t apply because they don’t know they exist. Taking the time to check your eligibility could save you hundreds—or even thousands—of dollars each year.
💡 Tip: Even if you think your income is a little too high, apply anyway! Rules and income limits change every year, and you may still qualify.
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✅ Bottom Line: Programs like QMB, SLMB, and Extra Help are designed to make Medicare more affordable. Don’t miss out on savings that you may be entitled to.
👉 If you live in Maryland and want to know if you qualify for these programs, our team can guide you step by step. We’ll review your plan, check for savings, and make sure you’re getting all the help available to you.
👉 Need guidance or have questions about your Medicare coverage? Contact us today at healthcareamerican.com or call 443-929-0433 for personal assistance.
👉 Ready to explore your Medicare options? Contact us today for a free consultation.