Submitted by Colleen O’Keefe, SHINE Counselor

The Medicare Savings Program (MSP) can significantly lower your Medicare expenses. The savings include:

• The Part B Medicare premium ($202.90 monthly) is paid for by the program. If you have your Part B premium deducted from your Social Security, the Part B premium will no longer be deducted.

• Part D monthly premiums are reduced, in some cases, the monthly prescription plan premium will be $0.

• Your out-of-pocket medication expenses are decreased for the drugs that are on your Part D prescription plan.

• Allows a monthly Special Enrollment Period, making it possible to change your Part D plan every month. You will not have to wait until Medicare Open Enrollment to change your Part D prescription plan if you are enrolled in the MSP.

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