Jan 21
New Ways to Lower your Medicare Costs in 2020
A new state law in Massachusetts is expanding several Medicare Savings Programs (also known as “MassHealth Buy-in” programs).
These programs help older residents and people living with disabilities save money on their Medicare coverage.
On January 1, 2020 the income and asset limits for the Medicare Savings Programs* increased. If you qualify, these programs will pay your Part B premium and in some cases your Part A and B deductibles, co-pays and Part A premium (if you have one). In addition, you will automatically receive Extra Help, a program that will lower your Medicare Part D premium and co-pays.
Income and asset limits effective 1-1-20
| Income / month | Assets | |
| Individual | $1,738 | $15,720 |
| Married couple | $2,346 | $23,600 |
Prescription drug co-payments with Extra Help effective 1-1-20
| Per 30-Day supply | |
| Generic | $3.60 |
| Brand Name | $8.95 |
To learn more and to request an application, contact MassHealth at: 1-800-841-2900 or TTY at: 1-800-497-4648. SHINE Counselors can also assist you with the application process. Call 1-800-243-4636 or your town’s Council on Aging to find a SHINE counselor near you.
Applications are also available on-line at: https://tinyurl.com/MassMSP
* Medicare Savings Programs are also called “MassHealth Buy-In” and are administered by MassHealth. A flyer and FAQ about the program can be found here.