Staying Fit
Medicare covers most of your health care expenses after you turn 65, but it isn’t free. You’ll still have some out-of-pocket costs for Medicare Part A, Part B and Part D prescription drug coverage.
Fortunately, several programs provide financial assistance to people with limited resources or who have certain conditions. They can help pay Medicare premiums, deductibles, copayments and prescription drug costs.
AARP Membership— $12 for your first year when you sign up for Automatic Renewal
Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP the Magazine.
Reducing your costs for Parts A and B
State-run Medicare Savings Programs can help people with low incomes pay Part A and Part B premiums and out-of-pocket costs and provide some help with their drug costs.
To be eligible, your income — and sometimes your savings — must be below certain limits, which vary by state. These limits are generally higher than those required to qualify for Medicaid, and some states don’t count your savings.
Medicare Savings Programs come in four types, each with different details and eligibility requirements. Income limits are slightly higher in Alaska and Hawaii.
The Qualified Medicare Beneficiary Program helps pay for Part A and Part B premiums, deductibles, coinsurance and copayments. You also automatically qualify for the Part D Extra Help program and pay no more than $4.30 in 2023 for each drug your plan covers.
2023 gross monthly income and asset limits:
- Individual. $1,235 income, less than $9,090 assets.
- Couples. $1,663 income, less than $13,630 assets.
The Specified Low-Income Medicare Beneficiary Program pays Part B premiums and provides Extra Help with Part D costs. You’ll pay no more than $10.35 in 2023 for each drug your plan covers.
2023 gross monthly income and asset limits:
- Individual. $1,478 income, less than $9,090 assets.
- Couples. $1,992 income, less than $13,630 assets.
The Qualifying Individual Program pays Part B premiums and provides Extra Help with Part D costs. You’ll pay no more than $10.35 in 2023 for each drug your plan covers. States approve applications on a first-come, first-served basis.
2023 gross monthly income and asset limits:
- Individual. $1,660 income, less than $9,090 assets.
- Couples. $2,239 income, less than $13,630 assets.
More From AARP
How Much Does Medicare Cost?
Monthly premiums, other out-of-pocket expenses can add up
When 9 Biggest Medicare Changes Under New Rx Law Go Into Effect
A year-by-year implementation timeline of the Inflation Reduction Act’s health provisionsUnderstanding Medicare’s Options: Parts A, B, C and D
Making sense of the alphabet soup of health care choices