Medicare Savings Program Calculator

Key takeaway: If your income is below a certain level, the federal government will pay some or all of your Medicare premiums — and many people who qualify don't know it and never apply.

What this helps you decide

• Whether your income and assets fall within the limits for any of the four Medicare Savings Programs
• Which specific program you qualify for and exactly what costs it will cover
• Whether you're eligible for automatic Extra Help (the Low-Income Subsidy) to reduce your Part D drug costs
• What documents to gather and where to apply if you think you qualify

Who this is for

• Medicare beneficiaries with limited income who are struggling to pay their Part B premium of $202.90 per month
• People who have been told they earn too much to qualify — the thresholds are higher than many people realize, and they adjust annually
• Caregivers applying on behalf of a parent or spouse who may qualify but has never looked into it
• People who recently retired and experienced a significant income drop — your 2026 eligibility is based on current income, not what you earned while working

Example results

Example 1: Individual with $1,200 per month in income and $5,000 in savings. This person qualifies for QMB — the Qualified Medicare Beneficiary program, the most comprehensive of the four. QMB income limit for an individual in 2026 is $1,350 per month, and the asset limit is $9,950. At $1,200 per month and $5,000 in savings, they're within both limits. What does QMB cover? Everything. It pays their Part A premium (if applicable), their Part B premium of $202.90 per month ($2,434.80 per year), and all Medicare deductibles, coinsurance, and copays. Importantly, providers cannot bill a QMB beneficiary for Medicare cost-sharing — it is illegal under federal law for a provider to send a bill for copays or coinsurance to someone enrolled in QMB. Annual savings: potentially $5,000 or more depending on healthcare utilization. Qualifying for QMB also automatically qualifies this person for Extra Help with Part D prescription drug costs, which can save hundreds more per year.

Example 2: Individual with $1,550 per month in income. At $1,550 per month, this person earns too much for QMB (which tops out at $1,350/month) but qualifies for SLMB — the Specified Low-Income Medicare Beneficiary program. SLMB income limit is $1,616 per month for individuals in 2026 with the same $9,950 asset limit. SLMB covers one thing: the Part B premium. That's $202.90 per month or $2,434.80 per year — paid in full, every year, for as long as they remain enrolled in SLMB. It doesn't cover copays or deductibles, but eliminating the Part B premium is still a meaningful and recurring benefit. Like QMB, SLMB qualification also triggers automatic Extra Help (Part D Low-Income Subsidy), which can significantly reduce drug plan premiums and copays.

Example 3: Couple with $2,300 per month in combined income and $12,000 in assets. This couple falls above the QMB couple limit ($1,824/month) and above the SLMB couple limit ($2,184/month), but their income of $2,300 per month is within the QI program limit of $2,455 per month for a couple in 2026. QI — the Qualifying Individual program — covers the Part B premium only, same as SLMB, but has one important difference: you must reapply every year, and enrollment is limited by federal funding. Applications are processed on a first-come, first-served basis, so applying early in the year matters. Their asset level of $12,000 falls under the $14,910 couple asset limit. If approved, QI saves each enrolled spouse $2,434.80 per year in Part B premiums, plus triggers Extra Help for Part D. Total household premium savings: $4,869.60 per year.

Sample scenarios

2026 Medicare Savings Program thresholds

What to do next

1. Check the income thresholds against your actual monthly income. Income for Medicare Savings Programs includes Social Security benefits (including the gross amount before Medicare premium deductions), wages, pension or annuity payments, and rental income. It does not include the value of your home, personal belongings, one vehicle, or burial funds. If your income is close to a threshold, it's worth applying — eligibility workers can account for income exclusions that might bring you under the limit.
2. Understand the asset calculation before you rule yourself out. The asset limits — $9,950 for individuals and $14,910 for couples under QMB, SLMB, and QI — include checking accounts, savings accounts, stocks, bonds, and cash. They do not include your primary home, one vehicle, personal property, life insurance policies with no cash value, or burial funds up to $1,500 per person. If you've been counting your home's value and that's pushed you over the limit, recalculate without it.
3. Apply through your state Medicaid office — not through Medicare directly. Medicare Savings Programs are administered by state Medicaid agencies, even though the savings show up on your Medicare bill. You can apply in person, by mail, or online depending on your state. To find your state's application process, call 1-800-MEDICARE or visit your state Medicaid agency's website. Many states also allow SHIP counselors (free, federally funded) to help you complete the application.
4. If you qualify for QI, apply as early in the year as possible. QI enrollment is funded annually by Congress and awarded on a first-come, first-served basis. Unlike QMB and SLMB, QI can fill up. Applying in January or early February maximizes your chance of approval for the full calendar year. You'll need to reapply every year to maintain QI benefits.

Key facts

• Medicare Savings Programs can save qualifying individuals thousands of dollars per year in Medicare premiums and cost-sharing. QMB alone eliminates the $2,434.80 annual Part B premium and all Medicare copays, deductibles, and coinsurance — potentially $5,000 or more in total savings for people with regular healthcare needs.
• QMB is the most comprehensive — it covers Part A premiums, Part B premiums, deductibles, coinsurance, and copays. Federal law prohibits providers from billing QMB beneficiaries for Medicare cost-sharing amounts. If you're enrolled in QMB and a provider sends you a bill for a copay or deductible, you have the right to dispute it.
• All four Medicare Savings Programs automatically qualify you for Extra Help with Part D prescription drug costs (also called the Low-Income Subsidy). Extra Help can reduce Part D premiums to $0 in some cases and caps prescription copays at a few dollars per fill, saving hundreds to thousands of dollars per year in drug costs.

Related decisions

• Part A premium calculator — see whether you owe a premium for Part A hospital coverage
• IRMAA calculator — check whether your income triggers a Part B or Part D premium surcharge
• Medicare cost scenario planner — model your total annual Medicare costs under different plans
• Document gatherer — see what proof of income and assets you need to apply