Help Paying Medicare Premiums – Get The Help You Need

Do you have limited income and assets and want help paying Medicare premiums?

The good news is you can qualify for it. Get the help paying Medicare premiums once you qualify. Here are several programs you can look into if you need financial assistance:

• Medicaid

This is program is funded jointly by states and the federal government. Medicaid provides coverage to millions of Americans. Here, people with eligible low-income adults, children, pregnant women, elderly adults and people with disabilities can qualify for help.

• PACE 

It stands for “Programs of All-Inclusive Care for the Elderly”. It is is a Medicare and Medicaid national program that helps people meet their medical needs in the community instead of going to a nursing home.

You can qualify if:

• You have Medicare or Medicaid, or both
• You’re 55 or older
• You live in the service area of a PACE organization
• Need a nursing home-level of care (as certified by your state)
• Be able to live safely in the community with help from PACE

• Save on drug costs

You can qualify for extra help from Medicare if you meet certain income and resource limits. This extra will help will aid in paying your monthly premiums, annual deductibles and prescription co-payments that are related to a Medicare prescription drug plan.

• Know your level of Extra Help (Part D)

Extra Help is also referred to as “Low Income Subsidy-LIS-Program”. Your level of extra help with prescription drug costs is described on a purple, yellow, green, or orange colored notice from Medicare.

• Purple notice from Medicare – means that you’re automatically qualified for Extra Help
• Yellow or Green notice from Medicare – means that you are automatically enrolled on Extra Help
• Orange notice from Medicare – means that your copayment amount will change next year thus saying you may need Extra Help

• CHIP

It stands for “Children’s Health Insurance Program”. It provides health insurance for eligible children (up to age 19) who are not insured. The health coverage offered here are either free or low-cost. CHIP covers U.S. citizens and eligible immigrants.

• SSI

It stands for “Supplemental Security Income”. This program pays benefits to disabled adults and children who have limited income and resources. In addition, SSI benefits also are payable to people aged 65 and older without disabilities who meet the financial limits.

But then again…

Whether you are eligible to get help paying Medicare premiums depends on your income. This includes money you get from retirement benefits or other income you report on your taxes. Also, your assets, like property other than your house, are considered as well.