Nov 20, 2020

3 ways to save on Medicare costs

Everyone likes to save money. We can help. You may be able to get help paying for your health and prescription drug costs. If you aren’t sure if you’re eligible, it’s worth learning more about these 3 ways to save on Medicare costs:

  1. Extra Help: If you have limited income or resources, Extra Help can help pay Medicare Part D drug costs. If you apply and qualify for Medicaid or one of the Medicare Savings Programs above, you’ll automatically get Extra Help with Medicare drug costs. If you don’t automatically qualify for Extra Help, apply for free online.
     
  2. Medicare Savings Programs: Medicare has 4 savings programs, which are run by each state. These programs may help you pay for your Medicare premiums and other costs. To find out if you’re eligible, call your state Medicaid program.
     
  3. Medicaid: If you have limited income and resources, you may qualify for Medicaid—a joint federal and state program that:
  • Helps with medical costs
  • Offers benefits not normally covered by Medicare, like nursing home care and personal care services
    Each state has different rules about eligibility and applying for Medicaid. To see if you qualify and learn how to apply, call your state Medicaid program.

Other ways to save

Even if you don’t qualify for the programs above, you can still save money by choosing the right health and drug coverage. Medicare’s Open Enrollment running now through December 7 is a great time to make any necessary changes. Use Medicare Plan Finder to compare Medicare coverage options and find 2021 health and drug plans that meet your unique needs.