What Is The Specified Low-Income Medicare Beneficiary Program?
As the name of the benefit suggests,The Specified Low-Income Medicare Beneficiary program, also referred to as SLMB, is a state program designed to help people with low incomes pay for Part B of Medicare Health Coverage. Medicare Part B extends Part A (hospital coverage) to doctor visits and other non-emergency medical treatments. Since it is a state program, it varies some from state to state. However, applicants must be eligible for Medicare Part A , even if they are not currently enrolled, and they can have only limited assets and income.
So What Are The Current Asset and Monthly Income Limitations?
To be considered for this program, one's income must be between 100 and 120 percent of the federal poverty level. In 2010, a single person's monthly income limit is $1239, and that person's resources cannot exceed $8,100. A married couple's monthly income limit is $1660, and the married couple cannot have assets greater than $12,910. Because it is a state program, these amounts may vary slightly depending on where one lives. These amounts also changes yearly.
Some Assets Are Not Included When Calculating The Resources To Qualify For SLMB
Resources which are NOT included when deciding eligibility for SLMB are one's primary home, family car, burial plots and up to $1500 for burial expenses per person, or furniture and household items. Items that do count include cash, money in a checking or savings account, stocks, bonds, rental or income property. Applicants for the Specified Low-Income Medicare Beneficiary Program will be asked to provide a number of documents--a birth certificate, social security number, Medicare information, proof of income, bank records, and proof of any other assets, including insurance policies, and any health insurance coverage.