Helping Your Clients with Medicare Costs

If your clients have been through life changing events (divorce, loss of a spouse, loss of income) and are enduring financial hardships, you can help them lower their Medicare costs. There are numerous programs available to assist Medicare beneficiaries and we'll review them below.

There are four Medicare Savings Programs that can help offset your clients' costs:

The Qualified Medicare Beneficiary Program is another way to help clients lower their costs. This program provides coverage of Parts A and B premiums and utilizes cost sharing to lower income beneficiaries.

The Specified Low Income Medicare Beneficiary Program (SLMB) assists beneficiaries with their Part B premiums.

The Qualifying Individual Program (QI) helps beneficiaries pay for Part B premiums.

The Qualified Disabled Working Individual Program (QDWI) provides assistance for those under the age of 65 who are disabled and are no longer entitled to free Part A. These individuals have returned to work, have a lower income and are not eligible for Medicaid.

​Your clients can also request to have their IRMAA lowered - the amount they'll pay for Medicare Parts B and D. 

​Additionally, they can apply for the Medicare Part D Extra Help Program. This program helps those with lower incomes pay for their prescription drugs, deductibles and copays. Your clients can apply for the program online.

The Medicare Savings Program, available on the state level, provides assistance to Medicare beneficiaries with help paying their Part A and Part B premiums. If your clients qualifiy the program might also pay for their Part A and Part B deductibles, coinsurance, and copayments. Get help with Medicaid and CHIP by selecting your clients' state.

The State Health Insurance Assistance Program (SHIP) also provides help to Medicare beneficiaries and their families.

There is no shortage of resources and programs available to help offset the costs of Medicare. If your clients don't qualify for one program, they may for another. Be sure to utilize these tools to research the best options for your clients - and as always, if you need help, please reach out to us.

By Carolyn Portanova

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