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. There are four different types of Medicare Savings Programs, this page focuses on the Specified Low-Income Medicare Beneficiary (SLMB) Program.
Who Qualifies?
If you have income from working, you may qualify for benefits even if your income is higher than the limits listed.
- Specified Low-Income Medicare Beneficiary (SLMB)
- Individual monthly income limit: $1,478
- Married couple monthly income limit: $1,992
Resource Limits
The resource limits is $10,930 for one person and $17,130 for a married couple.
Countable resources include:
- Money in a checking or savings account
- Stocks
- Bonds
- Money in an IRA, annuity or trust
Countable resources don't include:
- Your home
- One car
- Burial plot
- Up to $1,500 for burial expenses if you have put that money aside
- Furniture
- Other household and personal items
Benefits and Services
- Specified Low-Income Medicare Beneficiary (SLMB) Program pays for your:
- Part B premiums only
You are still responsible for your Medicare deductibles and co-insurance.
How To Apply
- First, you must be eligible for or receiving Medicare.
- Second, contact your county of residence's Department of Human Services to apply.
Where Do I Get These Services?
- You can visit doctors who accept Medicare
- These programs do not provide Health First Colorado (Colorado's Medicaid Program) benefits, this means that even if a doctor accepts Health First Colorado and provides you medical services, Health First Colorado will not pay for any claims.
If you have more questions about this program please see our Medicare/Medicaid Frequently Asked Questions or contact our Member Contact Center.
Program Contact: hcpf_medicare_buyin@state.co.us