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Friday, December 20, 2013

I CAN’T AFFORD MY MEDICARE PREMIUMS! WHAT SHOULD I DO?



Life is getting more expensive every day. Even though inflation rates are down at the moment, it doesn’t feel like it. If you are having trouble paying premiums for Medicare health insurance there are several Medicare Savings Programs (MSPs) programs that might be a good fit for you:

  • Qualified Medicare Beneficiary (QMB), 
  • Specified Low-Income Medicare Beneficiary (SLMB), 
  • Qualified Individual (QI) and 
  • Qualified Disabled Working Individual (QDWI). 
  • California also offers the 250% California Working Disabled (CWD) program.


You must meet certain income and asset limits to qualify for these programs, which are administered by Medi-Cal (the California health program known as Medicaid in other states).


Here is a great webpage by The California Health Advocates on the eligibility criteria and details of each program along with a great “qualifications at a glance” chart. Check it out!



Also, remember that Medicare Savings Programs are exempt from estate recovery so you can rest easy that applying to one of these programs will not cause your children to lose their inheritance.



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