ALBANY, NY –
Governor Kathy Hochul today announced that nearly one million New Yorkers are now enrolled in State-administered Medicare Savings Program (MSP), which can help eligible older adults save an estimated average of $7,400 per year in health care costs. With the Medicare open enrollment period starting tomorrow, Governor Hochul also encouraged more New Yorkers to learn about and enroll in the MSP. Many older adults are eligible for this program following the Governor’s historic expansion of the MSP, which increased income eligibility limits to ensure more New Yorkers can benefit from health care savings.
“Our work to expand the Medicare Savings Program is helping ease the burden of healthcare costs for nearly one million New Yorkers and putting thousands of dollars back in their pockets,” said Governor Kathy Hochul. “I encourage older adults in New York to use the Medicare open enrollment period to find out if they are eligible for the program and to learn if other Medicare coverage options can provide additional cost savings.”
The Medicare open enrollment period begins tomorrow, Oct. 15, and will remain open until Dec. 7. While New Yorkers can enroll in the MSP all year round, the open enrollment period is a great time to learn about the benefits and address any Medicare questions.
The MSP helps Medicare beneficiaries living on limited incomes by paying their Medicare Part B premiums and automatically enrolling them in the federal government’s Extra Help program, which helps with prescription drug costs.
