Big Changes to Medicare Savings Program in Massachusetts!
By Steve Craffey
Great news for Medicare recipients in Massachusetts! Thanks to the tireless efforts of seniors advocating for themselves and others, the state has expanded its Medicare Savings Program (MSP), making it easier for more people to save on healthcare costs. The income limits have increased, so more people can qualify. If your monthly income is below $2,844 as a single person or below $3,853 as a married couple, you could now be eligible.
Another major win is the removal of asset limits, effective March 1, 2024. Now, you can have savings or other assets and still qualify for MSP. This opens doors for even more people to get the help they need.
The Medicare Savings Programs (MSP) are not insurance plans; they are programs run by MassHealth that can help pay some or all of your Medicare costs. There are 2 levels of benefits based on your income, both offer substantial savings.
If you qualify, MSP will pay the monthly Medicare Part B premium on your behalf so the $174.70 will no longer be deducted from your Social Security. Everyone will also automatically get Extra Help with prescription drug costs - limiting your prescription co-pays to $4.50 for generics and $11.20 for brand-name. Some beneficiaries will even get help with Medicare Part A and B deductibles, coinsurance, and co-payments.
The elimination of the asset limit and expanded income limits mean more help for seniors and people with disabilities in Massachusetts, making healthcare more affordable. If you think you might qualify, or know someone who could benefit, check out
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