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Is There Help If I Can’t Afford Medicare Supplemental Insurance?

Health care can be extremely difficult to afford. As prices continue to rise, many American citizens are left stranded without coverage. While Medicare may be more affordable than most private insurances, the cost can still be draining. Often times, Medicare supplemental insurance is a must have. However, even the premiums for Medicare supplemental service can be too expensive for one individual without help. The high cost of health care leaves many citizens frustrated and helpless. Thankfully, there is help for those who cannot afford Medicare supplemental insurance on their own.

Qualified Member Beneficiary Program (QMBP)

QMBP provides excellent support for those who are struggling to afford their Medicare supplemental insurance. This program promises to take over the monthly premiums of Medicare Part A. Furthermore, QMBP will cover both the monthly premium and annual deductible of Medicare Part B. In addition, each payment of co-insurance and deductible amounts for services under Medicare Parts A and B will be covered under this program.

Before deciding if QMBP is the right program for an individual’s health needs, it is necessary to meet the required qualifications. This program requires that individuals be eligible for Medicare Part A insurance. However, it is not required that one be currently enrolled in this plan to receive assistance. In addition, QMBP requires that an individual’s total household income be at or below 100% of the annual federal poverty level. This program uses the LIS asset test of $6,000 per individual and $9,000 per couple to determine qualification. This number is adjusted each year according to the Consumer Price Index.

Medicaid

This assistance program is available to all seniors over the age of sixty five who fall under the low income bracket. Young persons with a qualifying disability may be eligible for Medicaid as well. This assistance program will cover all premiums hassle-free. The qualifications for Medicaid vary from state to state. In order to determine eligibility it is necessary to first check with each state for specific qualification requirements.

Affording supplemental Medicare insurance does not always have to be a worry. An American citizen should never have to balance their health needs with the amount of money in their pocketbook. Programs such as QMBP and Medicaid are available to help individuals easily afford their Medicare Supplemental Insurance.



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