Medicare program is a health insurance plan, meant for citizens of age 65 or more. People under the age 65 can also qualify for this plan under certain circumstances such as physical disability or permanent damage to kidneys. South Carolina Medicare Benefits program takes care of expenses of health care to some extent, but does not include all medical costs or the expenses of long-term care.
Medicare services are funded by a part of taxes paid by the employees and their employers during their time of employment. It is also partly financed by monthly premiums, which are deducted from the individual’s Social Security payments.
Four parts of Medicare program provide different medical benefits.
South Carolina also provides Medicare savings programs for qualified individuals, to help reduce their expenses. Monthly premiums, deductibles, coinsurance and other cuttings can add extra burden on individuals of low income group. Medicare savings programs include Qualified Medicare Beneficiary program, Specified Low-income Beneficiary program and Qualified Individuals program.
Qualified Medicare Beneficiary (QMB) plan takes care of the payments for premiums, co-payments, deductibles and coinsurance. Qualified Individuals (QI) plan helps in paying monthly premiums and Specified Low-income Beneficiary (SLMB) plan helps in paying for the monthly premiums of Part B.