Asset limits key to helping more Medicare enrollees save money, study suggests

Seven of the eight states with the highest percentage of Medicare Savings Programs enrollees have either eliminated the asset test or have asset limits higher than the federal limit, according to the Kaiser Family Foundation

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Those states are Connecticut, Maine, Louisiana, Mississippi, Alabama, Massachusetts and New York. All have at least 19 percent enrollment. 

Under Medicare Savings Programs, state Medicaid programs help pay for premium and/or cost-sharing assistance for Medicare beneficiaries who have income and assets below specified levels, according to the Kaiser Family Foundation. 

In 2019, 16 percent of Medicare beneficiaries were enrolled in Medicare Savings Programs, according to the report. Enrollment level varies by state. South Dakota had the lowest percentage of Medicaid beneficiaries enrolled in Medicare Savings Programs in 2019, with 7 percent. Conneciticut had the highest percentage with 26.  

Enrollment level variance is due in part to differences in eligibility criteria and Medicare population poverty rates, according to the Kaiser Family Foundation. 

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