Most people do not pay a monthly premium for Part A of Medicare because they or their spouse have worked and paid into Medicare taxes for a full 40 quarters, which is equivalent to 10 taxable years.
What happens if this is not the case for you and you do not qualify for premium free Part A?
If you paid Medicare taxes for less than 30 quarters and have to buy Part A, the monthly premium amount in 2017 is $413.
If you paid Medicare taxes for 30-39 quarters, you will pay a lower premium in the amount of $227 a month.
For many who find themselves in this situation, this premium amount may be more than they can afford.
We want beneficiaries to know that there are several Medicare Savings programs. If an individual qualifies for the program, it will help to pay for certain costs associated with Medicare, including monthly premiums.
States have different rules to count your income and assets to determine if you are eligible for a Medicare Savings Program.
Certain income and assets may not count.
Even if your income or assets seem to be above the MSP guidelines, you should still apply if you need the help.
For more information on these programs, and how you can apply, call the number below and we can help.
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