Letters from Social Security offering cost savings are not too good to be true

Tens of thousands of seniors receiving letters from Social Security offering cost saving programs for their coverage are actually legitimate offers, according to Department of Elder Affairs.

The department says, although these letters may sound too good to be true, the Area Agency on Aging for Southwest Florida, wants to reassure seniors that these letters from Social Security Administration are legitimate.

The cost-saving programs referenced in the Social Security letters include Extra Help, a low-income subsidy program for Medicare Part D prescription benefits. Other Medicare Savings programs include the Qualified Medicare Beneficiary program (QMB) and the Specified Low-Income Medicare Beneficiary program (SLMB). Individuals with a monthly income below $1,518.00 may be eligible for one or more of these programs, and couples with a monthly income below $2,058.00 may qualify.

Information on applying for coast saving benefits:

You May Be Able To Save $1,626 Or More In Medicare Costs!

If you can’t afford Medicare premiums or other medical costs, you may be able to get
help. Medicare Savings Programs may help pay Medicare Part A (Hospital Insurance)
and Medicare Part B (Medical Insurance) premiums, deductibles, coinsurance, and
copayments.

Am I Eligible For A Medicare Savings Program?

To qualify for a Medicare Savings Program, your monthly income and total resources
(like money in a bank, stocks, or bonds) must be at or below the amounts shown in this
table:

* The income limits are higher in Alaska and Hawaii. Many states allow you
to have more income than the figures listed above. If you or your spouse
work, some of your earned income will not be counted in determining your
eligibility.

** Some states allow you to have more resources. Your house, car, and up to
$1,500 per person in burial expenses don’t count as resources.
(over)

How Do I Apply For Medicare Savings Programs?

Call your State Medical Assistance (Medicaid) office to apply for a Medicare Savings
Program. To get the phone number for your State Medicaid office, visit
Medicare.gov/contacts online. First, choose your state under “Choose your location
for contact information,” and then, under “Choose an organization OR topic of
interest,” select “State Medical Assistance Office” at the bottom of the list of
options, or call 1-800-MEDICARE (1-800-633-4227). TTY users can call
1-877-486-2048.

What If I Have Questions?

Your State Health Insurance Assistance Program (SHIP) can help answer any Medicare
questions you may have. To get the phone number for your local SHIP office, see the
back cover of your “Medicare & You” handbook or visit shiptacenter.org online. For
more information about Medicare, please visit Medicare.gov or call
1-800-MEDICARE (1-800-633-4227). TTY users can call 1-877-486-2048.

Social Security Administration Centers for Medicare & Medicaid Services