The Specified Low-Income Medicare Beneficiary (SLMB) program is one of the initiatives designed to provide a safety net for low-income individuals eligible for Medicare.

If you’re an older American facing financial constraints, this post will guide you through the SLMB program – from its eligibility criteria and benefits to the alternative programs. Learn how it can be a crucial resource for those in need!

What is SLMB?

SLMB, or Specified Low-Income Medicare Beneficiary, is a government program in the United States that helps people with low incomes pay for their Medicare Part B premiums. 

The aim of this program is to relieve financial stress and help you save $2096+ annually on healthcare.

• Under SLMB, you don’t have to pay for Medicare Part B premiums. The standard premium is $174.70 per month in 2024. 
• You can qualify for both premium-free Part A Medicare and SLMB. This will reduce your monthly Original Medicare costs to $0. 
• SLMB qualification automatically enrolls you in the Medicare Part D Low Income Subsidy (LIS). This Extra Help program helps you pay deductibles and premiums for prescription drugs. It also limits your out-of-pocket costs to $11.20 in 2024.

The SLMB Medicare program also has a retroactive reimbursement feature. This compensates you for all the months you were eligible for SLMB but didn’t apply for it. The amount is typically paid back through your social security check. 

SLMB income limits 2023

The general eligibility criteria for SLMB is that you should be enrolled in Medicare Part A and B or should qualify for it. But that’s not all. 

You should have limited financial resources as defined by the Federal Poverty Guidelines. They are changed each year and according to the state. So, you should check in with your state guidelines to confirm whether you qualify for SLMB or not. 

However, the general income and asset criteria for the SLMB program in 2023 are as follows:

Limits	Monthly Income	Asset
Single	$1,478	$9,090
Married	$1,992	$13,630

SLMB VS QMB 

SLMB (Specified Low-Income Medicare Beneficiary) and QMB (Qualified Medicare Beneficiary) are both assistance programs in the United States designed to help individuals with limited financial resources cover their Medicare costs.

But, they serve slightly different purposes and offer varying levels of support:

• SLMB (Specified Low-Income Medicare Beneficiary)

SLMB helps individuals with incomes slightly above the Medicaid limits pay for their Medicare Part B premiums. It specifically targets those who don’t qualify for full Medicaid benefits but still need assistance with their Medicare costs. 

The program covers only the Part B premium. It does not cover other Medicare-related expenses such as deductibles, copayments, or prescription drugs.

• QMB (Qualified Medicare Beneficiary)

QMB is a more comprehensive program that provides a higher level of assistance. It helps eligible individuals pay for their Medicare Part A and Part B premiums, as well as deductibles, copayments, and coinsurance. 

QMB essentially wraps around Medicare – ensuring that beneficiaries do not have to pay out-of-pocket for the costs that Medicare would normally require them to cover.

Questions about Medicare?

Shoot us an email at medicare@hihella.com.