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Saturday, February 26, 2011

who is eligible for Medicare savings program

Medicare Savings Programs (Help with Medicare costs)
States have programs that pay Medicare premiums and, in some cases, may also pay your Part A (Hospital Insurance) and Part B (Medical Insurance) deductibles and coinsurance. These programs help people with Medicare save money each year.
To qualify for a Medicare Savings Program, you must meet all of these conditions:
Have Part A

Single person—Have monthly income less than $1,239 and resources less than $8,100

Married and living with a spouse—Have monthly income less than $1,660 and resources less than $12,910

Note: These amounts may change each year. Many states figure your income and resources differently or may not have limits at all, so you may qualify in your state even if your income is higher. Resources include money in a checking or savings account, stocks, and bonds. Resources don’t include your home, car, burial plot, up to $1,500 for burial expenses (per person), furniture, or other household items.

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