What is the purpose of the Medicare Savings Program?

The purpose of the Medicare Savings Program is to assist beneficiaries in managing the financial burden associated with Medicare by helping to pay for premiums and out-of-pocket costs. This program is designed specifically for individuals with limited income and resources, enabling them to access necessary healthcare services without the worry of high out-of-pocket expenses.

By covering costs such as Part A and Part B premiums, deductibles, copayments, and coinsurance, this program ensures that beneficiaries can afford their healthcare and maintain access to necessary medical services. It plays a crucial role in enhancing the affordability of Medicare for those who are often in the most need of assistance, thereby improving health outcomes for vulnerable populations.

Other choices do not align with the core objective of the Medicare Savings Program. Increasing premiums would be counterproductive to the program's intent, while providing additional insurance coverage or focusing solely on dental coverage does not encompass the primary mission of financial relief regarding existing Medicare costs.