Medicare costs can be a significant burden for seniors on a fixed income. Fortunately, the state of Arkansas offers Medicare Savings Programs (MSPs) to help low-income residents cover these expenses.
What Do MSPs Cover?
Depending on which program you qualify for, an MSP can help pay for your Medicare Part A and/or Part B premiums. In some cases, they may also cover Part A and Part B deductibles, coinsurance, and copayments.
Types of Medicare Savings Programs
- Qualified Medicare Beneficiary (QMB) Program: Helps pay for Part A and Part B premiums, deductibles, coinsurance, and copayments.
- Specified Low-Income Medicare Beneficiary (SLMB) Program: Helps pay for Part B premiums only.
- Qualifying Individual (QI) Program: Helps pay for Part B premiums only.
- Qualified Disabled and Working Individuals (QDWI) Program: Helps pay for Part A premiums only.
How to Apply
Eligibility is based on your income and resources. Even if you think you might not qualify, it is worth applying. Our local Arkansas advisors can help you navigate the application process and determine if you are eligible for state assistance or the federal Extra Help program.