The state of Maine expanded eligibility and eliminated an asset test allowing the program to help more residents
- Medicare Savings Programs offer financial support for low-income individuals
- Program offsets the costs of Medicare insurance premiums
- Funded through Medicaid
- Disproportionately serves beneficiaries in communities of color, beneficiaries under 65 with disabilities, and women
- Expanding eligibility in Maine to those earning up to 250% of the federal poverty level
- Eliminated asset test for eligibility
- Savings can be significant, potentially saving hundreds or thousands of dollars
- Expansion scheduled to begin next year pending federal approval
- Approximately 19,250 Maine residents will be eligible for the program
- Medicare provides coverage to 65 million people in the U.S.
- 10.3 million Medicare beneficiaries enrolled in the Medicare Savings Programs as of 2019
- Programs vary by state in eligibility criteria and poverty rates
- Designed for individuals with low incomes and limited savings
Maine has expanded eligibility for the Medicare Savings Program, which provides financial support for low-income individuals by offsetting the costs of Medicare insurance premiums. The program, funded through Medicaid, disproportionately serves beneficiaries in communities of color, beneficiaries under 65 with disabilities, and women. Eligibility in Maine has been expanded to those earning up to 250% of the federal poverty level, and the asset test has been eliminated. This expansion could save participants hundreds or even thousands of dollars. The program is scheduled to begin next year pending federal approval, and approximately 19,250 Maine residents will be eligible. Medicare provides coverage to 65 million people in the U.S., and 10.3 million beneficiaries are enrolled in the Medicare Savings Programs. These programs vary by state in eligibility criteria and poverty rates. Overall, the programs are designed to provide a lifeline for individuals with low incomes and limited savings.
