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3 Ways to Save on Medicare Costs

Ways to Save on Medicare Costs

Undoubtedly, everyone likes to save money and reduce their daily expenditure. NewMedicare can help you in saving costs by reducing expenses on your drug and health bills. Here we’ll tell you about three ways to save on Medicare costs.

3 Ways to Save on Medicare Costs

Extra Assistance

If you have a tight budget, extra assistance can help you pay for your Part D drug costs. Moreover, if you qualify for any Medicaid or medical saving program, you can get relief on the medicine prescription cost. 

Medicare Saving Program

There are four types of Medicare saving programs that include Qualified Medicare Beneficiary (QMB) program, Qualifying Individual (QI) program, Specified Low Income Beneficiary (SLIB) program, and Qualified Disabled and Working Individual (QDWI) programs. Moreover, these four programs are available in each state and can help you pay for your Medicare premiums and other related costs. To avail of the facility, you should call your state Medicaid program to find your eligibility. 

Medicaid

It is a joint program of both federal and state, and deserving individuals with low income can qualify for Medicaid. This program has several purposes and benefits, including reducing medical costs. Moreover, it can also cover costs that Original Medicare doesn’t cover, like personal care services and home care. However, while this program is available in all states, each state’s eligibility criteria differ. Therefore, it is important first to call your state Medicaid program to find eligibility and apply for the program. 

More Ways to Reduce Cost

If, in any case, you fail to qualify for the above programs, there are still several ways to reduce your costs by choosing suitable health and medical coverage. Moreover, there’s an Open enrollment of the Medicare program that can help you make adjustments. Lastly, there is a Medicare plan finder that can help you compare the various Medicare options and choose the most suitable one. 

Reach Out Today at NewMedicare.

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