MSP Medicare Savings Program

V

Veronica

Head Shenanigator
Location
Eastern Midwestern Female
I received a notice for this in the mail. At first I thought it was a scam. Like those car warranties.
I checked and its a legitimate program. I do not qualify. But I thought I would bring it to your attention if you want to look into it.


Heres a video that explains it .






Edit to add more info on this site.

https://www.medicareinteractive.org/wp-content/uploads/MSP-income-asset-limits-US.pdf
 

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Each State has its own requirements to be eligible for their MSP.

It's worth checking with your own State.

Some have 2 levels; you might qualify for either. Some count assets, but other States do not. Those count only present income.

It can help with drug costs as well as Medicare part b monthly premiums, and yearly deductible, and Co pays.
 

I don't qualify for the OP plan. I hope it's okay if I share a thought in your thread on an Advantage plan that could save people money and no qualification is required. It is what's called a "giveback" plan. It may not be available in all zip codes. It has a zero premium, and "gives back" part of your Medicare Part B deduction, which is usually $185/month. The plan I chose from Humana will reduce my $185 deduction by $90 every month, , meaning that only $95/month will be deducted from my SS for Medicare Part B, rather than $185.

There is a catch. The plan has a $425 annual medical deductible. But, that gnerally only applies to diagnostic services, or out of network providers. Members still pay nothing for doctor visits (they do not have to meet the medical deductible to see the doctor and certain other services). But even if you have tests and end up paying the $425 deductible, you've still saved money because you saved $1080 in premiums (12 X $90).
 
For those of us who have and prefer traditional Medicare, for lots of reasons,
(not the Medicare advantage plans from private for profit insurance companies, )

The MSP offers large numbers of seniors, significant savings.

And, people with advantage plans, can still get an MSP, if they meet their own States guidelines.
 
@MACKTEXAS All info is good. I didnt know about this MSP stuff until I received a notice in the mail.
I waited till 70 to claim my SS and Im close to the top so just counting that alone I qualify for nothing.
I still get alot of stuff in the mail because the husband was disabled and he received SSD. I ignore most of it.

My insurance is thru my company. I dont pay anything. Your plan shows a lot of merit. Thanks for sharing.
Hopefully it and maybe the MSP will benefit some of the lower income seniors on the forums.
 

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