Get Money For Healthcare
You may be eligible to save up to $7,000 a year on Medicare and prescription expenses.
Did you know you can get a helping hand paying for your doctor’s visits and medications if you’re over 65 and living on a limited income? It’s true!
If you qualify for a Medicare Savings Program, you’re also automatically enrolled in Extra Help, a government program that can help you save on prescription drug costs.
These two programs together can save you up to $7,000 a year.
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Learn MoreFor more than 60 years, AARP Foundation has been helping people secure the essentials, including healthcare. We’re on a mission to help people over 50 with limited resources tap into available assistance, should they need it. Here’s what you need to know about Medicare Savings Programs.
Save $2,000 on Medicare Costs
Managed through Medicaid, Medicare Savings Programs are provided by the government to help people pay for some healthcare-related expenses. There is no cost to participate, and no one will ask you for money.
Once you’re enrolled, your current plan and doctors won’t change. You’ll simply receive help — up to $2,000 — to pay for some of your Medicare expenses, such as:
- Premiums: What you pay for Medicare each month
- Co-Pays: Your doctor’s visit bill
- Co-Insurance: The percentage you pay after you meet your deductible
How Do I Know If I Am Eligible?
Every state has slightly different requirements to qualify. But in general, your income — and sometimes your savings — must be below certain limits. These limits vary by state and go up every year.
Your Monthly Income Must Be Below:
- $1,549 per person
- $2,080 per married couple
Your Monthly Savings Must Be Below:
- $8,400 per person
- $12,600 per married couple
You may still qualify for these programs even if your income or savings — also called assets or resources — are higher than the limits listed. When deciding who qualifies, some states don’t count certain types of income or have savings limits.
To apply for a Medicare Savings Program in your state, contact your State Medicaid Agency.
More than 10 million people are already enrolled — but many more are eligible. Even if you’re unsure if you qualify, contact your State Medicaid Agency to check if you can receive this money-saving benefit.
Save Up to $5,000 on Prescription Costs
There’s also a program called Extra Help, which can save you up to $5,000 a year on your medication costs. Extra Help provides assistance paying for Medicare drug coverage (Part D) premiums, deductibles, coinsurance, and other costs.
You’re automatically eligible for Extra Help if you get:
- Full Medicaid coverage
- Help from your state paying your Part B premiums (from a Medicare Savings Program)
- Supplemental Security Income (SSI) benefits from Social Security
Once enrolled, you should receive a letter explaining how Extra Help works, including how much you’ll pay, and your new Medicare drug plan, if you don’t have one already.
Some people qualify for Extra Help automatically, and other people have to apply, so it’s best to ask about this money-saving program when you apply for a Medicare Savings Program with your State Medicaid Agency.
We’re on a mission to help people over 50 with limited resources tap into available assistance, should they need it.
Stay in the Know
Get practical tips and free support – from help finding work to lowering your bills – when you subscribe to email updates from AARP Foundation.