Resource Limit for Medicare Savings Program?
My mother will be retiring soon and her only income will be $1,300 from social security. She will meet the monthly income threshold to be eligible for QMB. However, does anyone know if she must also meet the "Resource Limit"? On the Medicare website it says $9,950. Does that mean all liquid assets as of now or monthly or yearly? The website does not clarify.
Does anyone have experience applying for QMB?
https://www.medicare.gov/basics/costs/help/medicare-savings-programs
$202 Part B premium is a lot, considering her only income will be that $1,300. She barely has anything in her retirement account, just cash which may last her a couple of years. I am worried she will deplete all her saved assets and only live off $1,098 - Which is not much to cover food, housing, property tax, etc. Is anyone else in this predicament living off only social security and no retirement?
Are there other savings program for Medicare out there?
State: Missouri