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What You Might Lose if You Lose Low Income Medicare Benefits

If you currently have Qualified Medicare Beneficiary (QMB) benefits, there are three big benefits you stand to lose if your income is higher than the new income levels.

If you have any level of Medicare Savings Program (MSP) status, you may lose two benefits you currently enjoy.

Losing these benefits could be life changing or even life threatening.

It might be time to contact our state lawmakers and complain forcefully.

Here Is What You May Lose:

  • $134 a month
  • $0 copays for medical services (QMB only)
  • Low copays for prescriptions

You’ll Get a Smaller Social Security Deposit

You’ll have to pay for Medicare Part B unless your income is under the new guidelines. The standard cost for Medicare Part B is $134 per month in 2018.

You’ll Pay More in the Doctor’s Office and the Hospital

Expect to pay 20% or more of each doctor’s visit and over $1,316 for a hospital stay unless you have other coverage besides your gray card and prescription coverage.

If you do not have QMB status, your costs for these services might not change.

You Will Pay More for Your Prescription Drugs

If you have any level of MSP status including QMB, the most you can pay for a covered drug is under $9.00. If you lose MSP status, you could pay hundreds for certain drugs.

What Can You Do?

Get involved politically. Make sure your state representative knows how important these benefits are to you.

If you have QMB status, switch to a “Dual Special Needs Plan” before your status changes. You should be able to keep some of your benefits for an extra 3 months. (I can help you make the switch.)

 

About Post Author

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Alston J. Balkcom

“ Connecticut-licensed insurance agent since 1985.”