Medicare Savings Programs (MSPs) can help you save money on healthcare. But, common mistakes during the application process can lead to delays or even denials. Learn 5 of the most common pitfalls and how you can avoid them.
5 Common Pitfalls When Applying for Medicare Savings Programs
1. Not Applying Due to Misconceptions About Eligibility
Many individuals mistakenly assume they won't qualify for Medicare Savings Programs (MSPs) based on their income or assets. While federal guidelines set a baseline for eligibility, states can implement more lenient criteria. Always check both federal and your state's specific criteria before deciding not to apply.
2. Misunderstanding or Incorrectly Calculating Income and Resource Limits
Income and resource limits for MSPs can change annually and vary by state. States may allow certain deductions that could lower your countable income. Understanding which deductions are allowed in your state is crucial to avoid disqualification due to incorrect assessments. Stay informed about the current limits and how deductions apply to your situation.
3. Failing to Include Required Documentation
Incomplete applications are a common reason for delays or denials. Create a checklist of required documents, such as proof of income and resources, to ensure completeness. Double-checking for completeness before submission can help prevent setbacks.
4. Missing Application Deadlines and Renewal Periods
Medicare Savings Programs often require annual recertification. Missing these deadlines can result in the loss of benefits. Keep track of important dates and set reminders to ensure timely submission of applications and renewals. Learn more about the application process.
5. Not Appealing a Denial
If your application is denied, don’t give up. Many applicants fail to utilize the appeals process, which can help contest a denial if you believe it was unjust. Seek assistance from local advocacy groups or legal aid if you need help with the appeals process. Providing additional supporting information during the appeal can increase your chances of a successful outcome. Learn more about filing an appeal.
Understanding the application process for Medicare Savings Programs can help you avoid these common pitfalls and increase your chances of success.
If you're looking for more guidance or have questions about Medicare, consider joining one of the Medicare classes offered on GetSetUp!
Reviewed By: Keith Gilbert