$1,816 Monthly Income Triggers Free Medicare Part B

Medicare Savings Programs cover premiums and cost-sharing for qualifying retirees

The Details

MSP enrollment automatically qualifies you for Extra Help with Part D drugs, saving an additional $5,490 annually. Yet only 2 million of the estimated 8 million eligible beneficiaries are enrolled.

What this means for you

Retirement decisions compound — getting one of these details wrong can cost tens of thousands of dollars over a retirement. The good news: most of these mistakes are completely avoidable if you understand how the rule actually works.

Next step

If you want to see how this applies to your specific situation, take the free Retire Ready Score — a 2-minute assessment that scores your current plan across income, taxes, healthcare, and protection.