Here are some ways to lower or eliminate Medicare and drug coverage premiums if you’re on a tight budget:
1. Medicare Savings Programs
These state-run programs help pay Part A and/or Part B premiums (and in some cases deductibles and coinsurance). There are four levels—QMB, SLMB, QI and QDWI—with varying income limits and benefits.
2. Extra Help (Low-Income Subsidy)
A federal program that reduces Part D drug costs and may cover your monthly premium entirely, based on your income and assets.
3. Medicaid Dual Eligibility
If you qualify for both Medicare and Medicaid, Medicaid often pays your Medicare premiums and cost-sharing.
4. Zero-Premium Medicare Advantage Plans
Some Advantage plans bundle Part A, B and D benefits with no monthly premium. You still pay copays when you use services but save on the plan fee.
5. State Pharmaceutical Assistance Programs
Many states offer additional drug cost help for residents who meet age or income criteria.
6. Patient Assistance Programs and Charities
Drug manufacturers and local nonprofits may provide free or reduced-cost medications if you can’t afford Part D.
7. SHIP Counseling
Your State Health Insurance Assistance Program offers free, personalized guidance on eligibility, enrollment and applications for all of these programs.