Medicare Savings Programs (MSP) help people with limited income and resources pay for some or all of their Medicare premiums and may also pay their Medicare deductibles and co-insurance. In some cases, Medicare Savings Programs may also pay Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) deductibles and co-insurance. Medicare Savings Programs are a group of programs Colorado residents can apply for if they have Medicare.The State of Colorado may pay your Medicare Part B premium. Your income and resources cannot exceed a certain amount each month.
To apply, you have to turn in an application. Every year your eligibility will be reviewed to be sure you are still able to receive the monthly payment.
If your premium is approved by the State of Colorado, it may take a couple of months before Social Security stops taking the money out of your Social Security check.
Electronically:
By phone:
Paper:
There are four different types of Medicare Savings Programs – QMB, SLMB, QI-1, and QDWI. The different income limits for each program are listed below. Remember that if you have income from working, you may qualify for benefits even if your income is higher than the limits listed.
All sources of income will need to be verified.
The resource limits for QMB, SLMB and QI-1 Medicare Savings Programs are $9,470 for one person and $14,960 for a married couple. The resource limits for the QDWI program are $4,000 for one person and $6,000 for a married couple. The resource limits for the Low Income Subsidy (LIS) program are $14,790 for one person and $29,520 for a married couple.
All resources/assets will need to be verified. Some examples of resources that may be requested are below.
Countable resources include:
Countable resources don’t include:
With QMB, you might still have to pay your Health First Colorado co-pay. Visit the Benefits and Services Overview page for a list of Health First Colorado co-pays.
With SLMB, QI-1 and QDWI, you are still responsible for your Medicare deductibles and co-insurance.
