Americans have been through a difficult financial time. Although we are now seeing the Great Recession come to an end and the financial health of our nation be restored, many individuals are still dealing with the repercussions of the challenging economic climate we faced in the past decade.
If you, like so many, have been keeping a close watch on your budget to maintain your quality of life, Medicare can offer you some savings that might help ease your tension. When talking about these programs, your resources include money, stocks, and bonds, not your house, car, furniture, or other personal items.
- Qualified Medicare Beneficiary Program: In order to qualify for this program in 2015, individuals must make no more than $1,001 and married couples no more than $1,348 in income per month. The limit of available resources for individuals is $7,280 and for couples is $10,930 in order to qualify. This program can help you pay for Part A and B premiums, as well as deductibles, copayments, and coinsurance.
- Specified Low-Income Medicare Beneficiary Program: To qualify, individuals must have $7,280 or less in resources and earn $1,197 or less in monthly income. Couples must have $10,930 or less in resources and a monthly income of $1,613 or less. This program helps cover the cost of Part B premiums.
- Qualifying Individual Program: The individual monthly income limit for qualifying for this program is $1,345 with total resources of $7,280. For couples, the monthly income limit is $1,813 and resource limit is $10,930. This program helps cover Part B premiums. The applications for this program are granted on a first-come, first-served basis.
Do you have a healthcare expert showing you how to maximize your savings with Medicare? Contact SeniorChoices NW in Wilsonville, Oregon to get the kind of coverage and guidance you deserve.