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Medicare Savings Programs in 2024 If you have limited income and resources, you can get help from your state paying some or all of your Medicare premiums, deductibles, and coinsurance.
Get help from your state paying your Medicare Part A (Hospital Insurance) and Part B (Medical Insurance) premiums through a Medicare Savings Program. If you qualify, Medicare Savings Programs might also pay your Part A and Part B deductibles, coinsurance, and copayments.
Discover the eligibility thresholds for the Medicare Savings Programs in our chart, including changes made by individual states. Use our 2024 eligibility chart to determine state-specific information about the income and resource thresholds for the four Medicare Savings Programs.
A Medicare Savings Program can help pay for some of your monthly Medicare Part A (Hospital Insurance) premium, Medicare Part B (Medical I nsurance) premium, or both. These programs may also reduce your deductibles and other out -of-pocket costs.
To qualify for a Medicare Savings Program (MSP), you must meet your state’s income and asset limits. Listed below are the baseline federal income and asset limits for each MSP. Most states use these limits, but some states have different guidelines.
Medicare Savings Programs (MSPs) and Low-Income Subsidy (LIS) Coverage Groups Financial Standards-April 2024 Interim Effective January 2024 2024 Medicare Premiums Premium Amount Deductible Part A- Hospital Free for most or $505 $1,632 Part B- Medical $174.70 $240 (annual) Part C-Medicare Advantage Plan Varies by Plan Varies by Plan
All figures in this chart are derived from the 2024 ASPE poverty guidelines. The following state-specific guidelines apply to the Qualified Medicare Beneficiary (QMB), Specified Low-Income Medicare Beneficiary (SLMB), and Qualifying Individual (QI) Medicare Savings Programs.