It was announced yesterday by Governor Kathy Hochul that residents in New York will be eligible for more financial assistance. This will happen with the Medicare Savings Program in 2023.
An average of $7,000 per year can be saved by older adults and people with disabilities. This can happen now that there are increased income eligibility limits.
“We have an obligation to help older adults and individuals with disabilities to age within their community with dignity,” Hochul said.
“By expanding eligibility for the Medicare Savings Program, we can ensure that a greater number of these New Yorkers aren’t burdened by the cost of healthcare. I encourage all eligible beneficiaries to apply for this program so they can save money and improve their health care coverage.”
This will start in January. The monthly income limits will be increased to $2,107 for a single person. It would be $2,839 for a couple, on average. These numbers are based on the 2022 federal poverty levels.
Residents in New York can apply for the program through the remainder of the year and during open enrollment.
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