Wisconsin Medicare Insurance Plans
Medicare is a federally sponsored health insurance program available to those over the age of 65, as well as to individuals who have certain disabilities. At the state level, however, there exist specific organizations that help beneficiaries better understand the Medicare process, and Medicare recipients may even qualify to receive state subsidies, depending on their circumstances. Consider the following information if you are interested in obtaining Medicare coverage in the state of Wisconsin.
Medicare Supplement (Medigap) Policies
Even though Federal law doesn’t require insurance companies to sell Medigap policies to people under 65, Wisconsin is one of the states that does require this. This circumstance can be true if you are under 65 and have Medicare because of a disability or End Stage Renal Disease.
Mini-COBRA Policies (small group)
In Wisconsin, if you work for an employer with fewer than 20 employees you may be eligible for 18 months of continued coverage under Wisconsin continuation state law. This is true for employees who may have lost coverage due to retirement, quitting a job or reduced work hours.
Medicare Savings Program in Wisconsin
In some cases, Medicare beneficiaries may qualify to receive additional financial assistance from the state government to cover the costs of premiums, co-payments, and other expenses. Wisconsin participates in the following four Medicare Savings Programs.
*The following data is from 2016 and is based on federal amounts. These amounts may increase in 2017. If your income and resources are slightly higher, you should still apply, you may qualify for benefits even if your income is higher than the limits listed.
- Qualified Medicare Beneficiaries (QMBs): For individuals with a monthly income under $1,010 and for couples with a monthly income under $1,355, the state pays all premiums for Part B and all Co-Pays and Deductibles for Parts A & B
- Specified Low-Income Medicare Beneficiaries (SLMBs): This is available for individuals or couples who earn under $1,208 or $1,622 monthly, respectively, and covers Medicare Part B premiums.
- Qualifying Individuals (QIs): This is available for individuals and couples who earn under $1,357 or $1,823 per month, respectively, and covers Medicare Part B premiums.
- Qualified Disabled and Working Individuals (QDWIs): This is available for individuals or couples who make under $4,045 or $5,425 per month, respectively, and pays for Medicare Part A premiums only.
*Data from Medicare.gov
**According to ssa.gov, you should be aware that several States may even disregard all resources for individuals or couples in certain categories.
Low-Income Subsidy (“Extra-Help”) for Prescription Drugs
In 2017, you may qualify if you have up to $18,060 in yearly income ($24,264 for a married couple) and your assets are below specified limits. Even if your income or assets are above the limit, you may still qualify for Extra Help because certain assets and types of income may not count. If you are enrolled in a Medicare Savings Program, you are automatically qualified for Extra Help but you will still need to fill out an application.
If you live in Wisconsin, you can consult with one of our Medicare licensed sales agents to get personal assistance and compare Wisconsin Medicare insurance plans. One of our licensed sales agents can compare plans in your area and help you find the plans that best fit your needs.