What is "Qualified Medicare Beneficiary (QMB)" status?

Qualified Medicare Beneficiary (QMB) status is primarily a designation that helps individuals with the costs associated with Medicare. Under this program, eligible individuals receive assistance in covering premiums, deductibles, copayments, and coinsurance for Medicare Part A and Part B. This status is aimed at supporting those who might struggle to afford these costs, ensuring that healthcare remains accessible to them.

While it is true that QMB is specifically aimed at low-income individuals, the focus of the program is on reducing out-of-pocket expenses for healthcare rather than simply being a program reflecting income status alone. Therefore, the essence of QMB status lies in the financial assistance it provides for Medicare costs, making the correct answer a comprehensive representation of what the QMB designation offers to beneficiaries.