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Medicare Savings Program New York Program Improvements

Hundreds of thousands of New York residents are eligible to enroll in the expanded 2023 Medicare Savings Program (MSP). MSPs pay the monthly Medicare Part B premium and experts warn that many New Yorkers are not aware of this significant money-saving benefit.

A report from the National Council on Aging estimates that nearly three million low-income older adults and persons with disabilities are eligible for but not enrolled in the Medicare Savings Programs (MSPs) and Part D Low-Income Subsidy (LIS)/Extra Help.

New Rules Benefit Low Income New Yorkers

Starting January 1, 2023, New York eligibility for the Medicare Savings Program (MSP expanded to include individuals with Medicare who have an income up to $2,107 per month. The monthly income for couples is $2,839. There are no asset limits for the MSP in New York.

The MSP helps seniors on Medicare by paying their Medicare Part B premiums ($164.90 each month). It also enrolls them in Extra Help. The MSP program can also benefit Medicare-eligible people with disabilities living on low incomes.

Making Medicare Savings Program Enrollment Simpler

According to the Medicare Rights Center, people who were enrolled in Medicaid at the beginning of the COVID-19 pandemic are largely still enrolled.

Congress put limits on states curtailing coverage for those individuals. However, that requirement ends in April of 2023(H.R.2617). When this occurs, states will begin recertifying Medicaid eligibility.

Those who no longer qualify for Medicaid will lose coverage putting many people at risk of not having benefits.

The Beneficiary Enrollment Notification and Eligibility Simplification (BENES) Act was enacted as part of the Consolidated Appropriations Act, 2021 (CAA). The BENES Act final rules establish a new Medicare Special Enrollment Period (SEP) that will allow Medicare-eligible individuals who lose Medicaid to enroll more easily. While this will improve timely access to Medicare, the MSP application and enrollment

Extra Help; The Federal Prescription Drug Subsidy

Extra Help is a federal prescription drug subsidy program that the Social Security Administration. Medicare beneficiaries can qualify for Extra Help paying for their monthly premiums, annual deductibles, and co-payments related to Medicare prescription drug coverage.

The Social Security Administration’s website estimates that the Extra Help is worth about $5,300 per year for each beneficiary. To qualify, you must be receiving Medicare and have limited resources and income. You must also reside in 1 of the 50 states or the District of Columbia.

Additional Medicare Information You May Find Of Value

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About the Author

Jesse Slome

Jesse Slome
Medicare Insurance Expert
Director, American Association for Medicare Supplement Insurance

Jesse Slome is a leading Medicare insurance expert and the founder and director of the American Association for Medicare Supplement Insurance (AAMSI). Since 1998 AAMSI has served to educate consumers and support insurance professionals who offer Medicare insurance plans.