This bill makes 3 changes to the Medicare savings program.
1. It removes the asset test.
2. It changes the income eligibility methodology by setting the federal poverty level at income levels established using the Elder Economic Security Standard Index developed by the Gerontology Institute at the University of Massachusetts Boston. It sets the upper limit for qualifying individuals at a federal poverty level that is equivalent to or above the
42 income level established by the index using the filters "homeowner with a mortgage" and
43 "poor health." The upper limit for the qualified Medicare beneficiaries is 15% below that
44 level.
3. It eliminates the specified low-income Medicare beneficiary as a category. The Department of Health and Human Services must amend its rules to implement the new income levels no later than January 1, 2024 and submit any necessary state plans to the United States Department of Health and Human Services, Centers for Medicare and Medicaid Services.