Medicare for Lower Income
In Colorado and surrounding states, Medicare premiums and prescriptions can be lowered by applying at your local county human services office. There are two categories of programs if your income is low.
Medicare Savings Programs (Usually pays for Medicare Part B premium)
Good news! After qualifying for the Medicare Savings Program, it could be a good idea to keep a $0 premium Medicare Advantage plan for the additional benefits. It can also keep the option open to seeing a provider that does not accept Medicaid. Contact us to see which Medicare Advantage Plan works best.
Low Income Subsidy (LIS); more commonly called “Extra Help” Usually pays for Part D drug premiums and some other out-of-pocket drug expenses, such as deductibles, copays, and coinsurance.
Good news! If you qualify you can switch coverage in to the middle of the year. Contact us to see which Prescription Drug Plan works best.
Three Kinds of “Medicare Savings Programs” to help those with lower incomes
Qualified Medicare Beneficiary (QMB) Program
Specified Low-Income Medicare Beneficiary (SLMB) Program
Qualifying Individual (QI) Program
If you have income from working, you may still qualify for one of these three programs even if your income is higher than the income limits listed below.
If you qualify for a QMB, SLMB or QI program, you automatically qualify for Extra Help (Low Income Subsidy, or LIS) - which provides assistance paying for your Part D prescription premium and possibly for deductibles and copays for the drug costs.
If you do not qualify for a Medicare Savings Program, you may still qualify for Extra Help, aka Low Income Subsidy, to assist you with the cost of your prescriptions.
Colorado Medicare Savings Program: Asset & Monthly Income Limits
| Medicare Savings Program | Individual Income Limit | Married Income Limits | Married Income Limits |
| QMB | $1,084 | $1,487 | Part A deductible and Part B Premium plus other deductible, and co-payments |
| SLMB | $1296 | $1,744 | Part B Premium Only |
| QI | $1456 | $1,960 | Part B Premium Only |
NOTE: ASSET LIMITS FOR ALL LEVELS OF ASSISTANCE IS $9,060 FOR AN INDIVIDUAL & $14,340 FOR A COUPLE
Extra Help - Could You Use Some, Residents of Colorado and Surrounding States?
For individuals who receive Part D prescription drug coverage and are low-income, there is assistance available for the costs of deductible and co-pays.
This Extra Help is also known as the Low-Income Subsidy (LIS). If you do not qualify for Medicare Savings Plan, you may qualify for Extra Help (LIS) to assist with the cost of your prescriptions.
Who is eligible? To receive Extra Help, persons must be eligible for Medicare Part D and have income less than 100% of the Federal Poverty Level for a full benefit or less than 150% for a partial benefit.
NOTE: When evaluating your assets, Medicare excludes the value of your home, car, personal possession, burial plot, or cash value of insurance policies. Many people qualify for Extra Help and don’t know it!
Extra Help with Medicare Part D (aka LOW INCOME SUBSIDY, or LIS)
| Individual | Couple | |
| Income Limits | $1,595 per month | $2155 per month |
| Asset Limits | $14,610 | $29,160 |