Medicare Glossary | Akron, OH

Medicare Savings Program (MSP)

Assistance for Medicare Part A and Part B Costs

The Medicare Savings Program (MSP) is a state-run program that helps eligible individuals with limited income and resources pay for certain Medicare costs. Depending on the type of MSP you qualify for, the program may help pay your Medicare Part A premium, Part B premium, and in some cases deductibles, coinsurance, or copayments. There are several levels of MSP assistance, each with its own income and resource guidelines. Individuals who qualify for Medicaid, receive Supplemental Security Income (SSI), or who meet financial requirements may be eligible. Enrollment in an MSP may also provide automatic eligibility for the Extra Help program, which reduces prescription drug costs.

To learn more or apply, you can contact your state’s Medicaid office, visit Medicare.gov, or call Medicare at 1-800-MEDICARE (1-800-633-4227). Applying is free, and getting information does not require you to make any changes to your current Medicare coverage.

Limited Income Assistance (Extra Help)

Helping Reduce Prescription Drug Costs for Qualifying Individuals

Limited Income Assistance—also known as Extra Help—is a federal program that helps eligible Medicare beneficiaries with limited income and resources lower their Medicare Part D prescription drug costs. This program is offered through Medicare and the Social Security Administration and is designed

to make medications more affordable throughout the year. Extra Help may reduce or eliminate a Part D monthly premium, lower prescription copays, and

decrease overall out-of-pocket expenses. The level of assistance varies based on income, assets, and household circumstances. Some individuals qualify automatically, including those who receive Medicaid, Supplemental Security Income (SSI), or who are enrolled in a Medicare Savings Program. Others can qualify by applying directly. Eligibility is determined by the Social Security Administration.

If you think you might qualify or want to learn more, you can apply at SSA.gov, contact Social Security at 1-800-772-1213 (TTY 1-800-325-0778), or visit a local Social Security office. There is no cost to apply, and requesting information does not obligate you to make any changes to your existing Medicare coverage.

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