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Posted by Esther N. Phahla, CPA, A Professional Corporation

Learn About Different Types Of Medicare Savings Programs

Learn About Different Types Of Medicare Savings Programs

People who are not able to earn well are subjected to the Medicare savings programs. It helps the individuals to get the services of health with having the deductibles. It also gives the options of coinsurance and copayments for the low earning people. 

Types of Medicare Savings Programs

You can also get the extra help through the Medicare savings programs which can cut the cost for the needed drugs for cure. There are four main different types of Medicare savings programs. 

  • Qualified Medicare Program (QMB)
  • Qualifying Individual Program (IQ)
  • Specified Low Income Medicare Beneficiary Program (SLMB)
  • Qualified Disabled and Working Individuals Programs(QDQI)

There are different benefits associated with each program with the exceptions to it as well. You should be able to qualify for the programs when you are eligible for the part A of the Medicare savings account program. 

Requirement Changes 

There are changes in the requirements each year which you have to check on the official page of Medicare. When you are applying for the program, there is certain information which you need to provide to the institution. The information about saving accounts, checking accounts, bonds, mutual funds, stocks and more. 

If you are counting in your house, car, plot, personal items or furniture that will not be counted as the eligibility criteria for the program. 


If you are not sure what kind of details you need to provide then prefer to contact the accountant who is able to prepare well for you. You have to give access to the accountant to do the work perfectly for you. 

He/she will be able to extract all the necessary documentation and information needed for the eligibility of the program easily. 

Quick Review over Medicare Savings Programs

Here is a quick review over different types of Medicare Savings Programs:

  • QMB 

The insurance from the hospital enables you to avail this program. You are able to get the premium coverage of this program with paying of minimum expenses for the treatment in the hospital. You have to apply for this program separate when you are eligible for Part A of the program.  You can use the assets which can liquidate and they will be valid for you. 

  • SLMB

Earning less than the people who apply for QMB, the SLMB comes after it. If you earn too less then you are eligible for this program. You can get the additional benefit in this program by getting the payment of drugs as well considering you the lower income individual. 

  • QI

If you did not pass through the other two options, then you might be eligible for QI program. You will be able to get the help for drugs along with getting the program on the service of being at first. If you arrive earlier than someone else, the program will be given to you. There are limits for it which is why it is served to the person who comes first. 

  • QDWI

There are different conditions for QDWI program and if you fall under these conditions then you are good to go. You must be able to get back to work with this program, have some disability or be above the age of 65. 

The option still remains that you need to be working. You are not receiving any other assistance for medical treatment. You are able to comply with the requirements and rules of income with the state. 

Eligibility Criteria 

If you are sure about being eligible with all these conditions then you can apply for this program easily. If you are not any of the conditions then prefer to apply in the other three. 

Right Assistance 

Get the right assistance on the programs through an accountant who is aware of all the updated information. You will be able to select the best program for your health matters. Even if it is the matter of choosing it for your elders in the family, the accountant will do the job for you. 

You do not have to go through any hassle in deciding or knowing the detailed information. Prefer to let the accountant deal the matter so that he/she is able to get the ways clear for you. 

Esther N. Phahla, CPA, A Professional Corporation
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