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For some older adults, especially those with chronic health conditions, the out-of-pocket costs associated with Medicare can add up quickly. Medicare Savings Programs (MSPs) are Medicaid-run programs that help cover Medicare premiums and other cost-sharing expenses for people with low income.

Your maximum gross monthly income must be equal to or less than the limits set for individuals or couples. In 2023, the maximum gross income for an individual in Texas is $1,235, and for a couple, it's $1,663.

Medicare Savings Programs (MSP) are federally funded programs administered by each individual state. These programs are for people with limited income and resources to help pay some or all of their Medicare premiums, deductibles, copayments, and coinsurance.

On July 1st, 2022 the asset test to qualify for a Medicare Savings Program increased. These changes apply to the things you own, including bank accounts, cash, second homes and vehicles, and other financial resources. The new limit is $130,000 for one person and an additional $65,000 for each additional family member.

There are two levels to qualify for MSP. Qualifying Individual (QI) - The 2023 monthly income levels for QI are $2,260 for single, and $3,057 for couples, with no asset limit. Qualified Medicare Beneficiary (QMB) - The 2023 monthly income for QMB is $1,677 for single, and $2,268 for couples, with no asset limit.

The MSP helps pay out-of-pocket Medicare costs, such as your Part B premium. To be eligible, you must already be a Medicare beneficiary, meet the income requirements, and apply for this assistance. You can print an application online. You can also pick up a printed application through your local HIICAP program.

There are two levels to qualify for MSP. Qualifying Individual (QI) - The 2023 monthly income levels for QI are $2,260 for single, and $3,057 for couples, with no asset limit. Qualified Medicare Beneficiary (QMB) - The 2023 monthly income for QMB is $1,677 for single, and $2,268 for couples, with no asset limit.

What's the difference between Medicare and Medicaid? Medicare is federal health insurance for anyone age 65 and older, and some people under 65 with certain disabilities or conditions. Medicaid is a joint federal and state program that gives health coverage to some people with limited income and resources.