Tennessee residents can get extra help paying Medicare Part D insurance premiums through the Low Income Subsidy, according to Tennessee Medicare Assistance. Medicare Savings Programs are available through federal and state resources to help pay Medicare Part A and Part B premiums.Continue Reading
Patients already receiving Supplemental Security Income or Medicaid are automatically eligible for the LIS and do not need to apply, as stated by TMA. Individuals and couples can also qualify by meeting income and asset thresholds. As of 2015, individuals must provide documentation of a monthly income of $1,479 or less and assets of no more than $13,440. Assets do not include your home and car, but can be bank accounts, IRAs, other investments and property owned. Applications are submitted through local Social Security offices.
Several MSPs are available to individuals and couples eligible for Medicare Part A who meet income and resource requirements, as reported by Medicare.gov. The Qualified Medicare Beneficiary Program helps pay for Part A and Part B premiums. The Specified Low-Income Medicare Beneficiary Program and the Qualified Individual Program provide assistance for Part B premiums only. The Qualified Disabled and Working Individuals Program helps cover Part A premiums only. 2015 qualifying monthly income levels range between $1,001 and $4,009 for individuals and $1,348 and $5,395 for married couples, depending on the program.Learn more about Health Insurance