This is Gobbledygook Column #2.
The reason I’m putting us through this is because it could do a lot of people a lot of financial good, if they know about it, so stay with me; even if it doesn’t touch you, it might touch (read, “help”) somebody you care about.
Here’s what I said last week:
“You’re probably going to have to read this several times – It took me several times to write it. If it still doesn’t make any sense, but you think it might touch you or yours, just call any of the numbers at the end of this column and decent human beings will help you, without making you feel like an idiot.”
That still applies. OK, ready? Here we go.
There are things called “Medicare Savings Programs.” They are:
- Qualified Medicare Beneficiary (QMB);
- Special Low-Income Medicare Beneficiary (SLMB);
- Qualified Individual (QI-1).
QMB will pay for your Part A premiums (if you have any), your Part B premiums, and all Medicare deductibles, co-insurances and co-pays.
SLMB will pay for your Part B premiums and so will QI-1. Don’t ask why there are two programs that do the same thing – It will just give us both migraines.
These have been around for a while, and in order to play, you have to qualify by virtue of your (a) income, and (b) assets. The “problem” for a lot of folks has always been that the asset levels were REALLY low, so a lot of folks were “X’ed” out. Well, the assets limits have increased to the same levels as LIS (that’s “Low Income Subsidy”) which means the same thing as “extra help” for Medicare Part D, which we talked about last week in Gobbledygook Column #1.
That means that a lot of folks who have never been eligible will be eligible now, and we’re talking about hundreds of dollars per year, so stay with me here.
To qualify for QMB, the income for a single person can’t be above $903 per month, and for a married couple, $1,214. The asset limit is now $8,100 (+ up to $1,500 for burial expenses) for a single, and $12,910 for a couple (+ $3,000 for burial).
For SLMB, income for single = $1,084 per month, $1,457 for a couple. Assets are the same as above.
For QI-1, income = $1,219 for single, $1,639 for a couple – Same assets.
“Assets” means bank accounts, stocks, bonds, IRA’s, real estate and so on. It does NOT mean your house, your car or your stuff.
So: If you, or someone you care about, qualify for any of these acronyms, they will automatically qualify for Part D’s Extra Help! This could represent a lot of money to people who don’t have a lot of money.
And, by the way, if you’re eligible for QMB and have any Medicare Parts A or B “late enrollment penalties,” they will go away. If you’re eligible for SLMB or QI-1, and have a Part B penalty, it will go away. And, as noted last week, if you’re eligible for Extra Help and have a Part D penalty, IT will go away.
Some of the social service wonks among us are thinking, “You can’t fool me, Harvey. Those ‘Medicare Savings Programs’ are a form of Medicaid, and when you’re on Medicaid, they can come take your house!” Wrong. You’re talking about “estate recovery,” and estate recovery is specifically prohibited for Medicare Savings Programs (nice try, though).
So, what do you do? Go to any office of the “Department of Social and Health Services” (DSHS) and apply, or call any of the numbers at the end of this column for help from decent human beings. If (as noted last week) you go to www.socialsecurity.gov to apply online for Extra Help (which is a good idea), they will automatically (unless you tell them not to) send that info to the State, to start your application for the applicable Medicare Savings Program – Look: Why not? This is the government, and they already know everything they care to know about you, so why not get something out of it?
In fact, this year, Social Security will be sending info and applications to folks who appear, according to their records, to qualify for Extra Help and/or a Medicare Savings Program. I know better than most how much crap we’re all getting in the mail anymore; in fact, I’m the one who’s always screaming at you to beware of identity theft! – So, how would you know if the very official-looking thing you get in the mail is the “real deal?” Well, it will say, rather conspicuously, “Social Security Administration,” but if you’re not sure (and who could blame you?), bring it into any of our offices and we’ll help you figure it out.
See? I told you this was gobbledygook, but think about this: You worked hard all your life, doing whatever you had to do, to take care of yourself and your family, so just think of this as your “job,” and go take care of business, one day at a time.
And remember that where there’s life, there’s hope.
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