Medicare - What's a Quimby?

[i need medicare]

I hear people talking about a Quimby to take care of medical expenses not covered by Medicare. What's are Quimbies?

[Medicare Guy]

When people refer to a Quimby or Quimbies, they are referring to Qualified Medicare Benefits. These benefits are extended for free on a means-tested basis to people who have a lot of out-of-pocket medical costs (including the cost of Medicare deductibles and co-payments). To be eligible for Quimbies, applicants must be on Medicare and must be living below the federal poverty line. There are also very low asset limits for eligibility.

A person who qualifies for Qualified Medicare Benefits receives benefits including the following:

* QMB will pay for Medicare Part B premiums;
* QMB will pays the $100 per year deductible that Medicare patients must meet before Medicare Part B will helps with doctor bills and other outpatient costs.
* QMB will pay the 20% copayment for Medicare Part B benefits.
* QMB assists with Medicare Part A hospital costs, including the Medicare Part A deductible for hospital admissions, and co-payments for long hospital stays.