November 7, 2026 - KFF Answers Medicare Questions:
I am covered by Medicare and my only income is $12,000 from Social Security. I have $1,000 in a savings account. Do I qualify for any financial assistance with my Medicare coverage?
Based on your current income and asset amounts, you may qualify for Medicaid. Under the current rules, Medicaid helps many low-income people on Medicare with their Medicare premiums and cost-sharing requirements and may also cover some benefits that are not covered by Medicare, such as dental services and long-term services and supports. You might also qualify for extra financial assistance to help with the cost of Medicare Part D prescription drug coverage. To find out if you qualify for these programs, you can contact the State Health Insurance Assistance Program (SHIP) in your state, the State Medical Assistance Office (for Medicaid), or the Social Security Administration (for Part D extra help). The Medicare website provides links and phone numbers for these and other organizations.
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While every effort has been made to provide accurate and up-to-date information in these FAQs, people should contact Medicare, Social Security, State Health Insurance Assistance Programs (SHIP), or companies offering Medicare Advantage and Medicare Part D plans and Medigap policies directly for guidance on individual circumstances.
Source: KFF