What does the Medicare Savings Program help low-income beneficiaries with?

The Medicare Savings Program is designed to assist low-income beneficiaries by providing financial help with Medicare premiums, deductibles, and coinsurance. This program enables individuals who may struggle to afford these costs to access their necessary healthcare services without as significant a financial burden.

For eligible beneficiaries, the program may cover various costs associated with Medicare, including premium payments for Part A (Hospital Insurance) and Part B (Medical Insurance), which can greatly reduce out-of-pocket expenses. Furthermore, the program can assist with coinsurance, copayments, and deductibles which are part of the cost-sharing structure of Medicare.

In contrast to the other options, the Medicare Savings Program does not directly provide coverage for long-term care services, free prescriptions, or cover all healthcare costs. While individuals may receive assistance for some healthcare-related expenses, total coverage for all costs is not a feature of this program.