Save Thousands On Medicare

Did you know that Medicare beneficiaries living on a modest income can save up to $7,000 a year in out-of-pocket healthcare costs?

Medicare Savings Programs (MSP) are not insurance — they’re benefit programs that can help you pay for some or all of your Medicare costs. If you qualify, Medicare Savings Programs can help you pay for out-of-pocket costs such as premiums, copays, coinsurance, and deductibles.

More than 10 million Medicare beneficiaries are already enrolled, and AARP Foundation is working to reach others who may qualify.

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“These programs put money back in people’s pockets that can help them afford healthier foods, afford health care and really secure the essentials — which is what we’re about at the foundation,” says Nicole Heckman, AARP Foundation’s Vice President, Benefits Access Programs.

Help for the Essentials

Kristen Tyler, who was caring for her father, didn’t know the federal government had programs that could help her dad afford the thousands of dollars his health care and medications cost.

“Everything was so expensive, and we were drowning in debt,” says Tyler, a senior programs coordinator for SC Thrive, a South Carolina community organization. “We didn’t know about any of these programs.”

Today, Tyler visits senior centers, houses of worship, farmers’ markets, barber shops and beauty salons. She even stops by doctors’ offices to spread the word.

“We want to make sure people know about the benefits and resources that are available,” she says. “If I can take one person’s stress away, I feel I’ve done my good deed for the day.”

For Tyler, it’s about doing anything she can to help older Americans not have to choose between paying for food or healthcare.

These programs put money back in people’s pockets that can help them afford healthier foods, afford health care and really secure the essentials.

Nicole Heckman, AARP Foundation Vice President, Benefits Access Programs

How to Apply for Medicare Savings

Figuring out if you qualify for Medicare Savings Programs can be tricky — there are four different programs that pay for different expenses you may have.

Every state has its own guidelines, but in general:

• An individual’s monthly income cannot be higher than $1,549 and their savings cannot be greater than $8,400
• A married couple’s income cannot be higher than $2,080 and their combined savings cannot exceed $12,600

AARP Foundation has put together an overview of Medicare Savings Programs and how to apply through your State Medicaid Agency. Check out How To Apply For Medicare Savings Programs to get started.