If you or a loved one is concerned about paying for out-of-pocket costs associated with Medicare, consider applying for the CT Medicare Savings Programs (MSP). For those who qualify for one of three program levels based on income, an MSP pays your Medicare Part B premium and enrolls you into the Low-Income Subsidy (LIS) or “Extra Help” program to subsidize Medicare’s prescription benefits, deductibles and co-insurance.
To be eligible for an MSP, you must be a resident of Connecticut, eligible for Medicare Part A and Part B, and have a gross income below the established limits. Your assets are not a factor in determining eligibility, only income before taxes and deductions. Income includes Social Security, pensions, earned interest, and salary. Coverage remains the same even if you reach the coverage gap. LIS also allows you to change your Medicare Part D or Advantage plans outside the open enrollment period.
If you think you may be eligible for an MSP but are unsure how it combines with your other healthcare coverage, we would be happy to help you evaluate your options and apply! Just give us a call.