Glossary · Medicare
What is a Medicare Savings Program (MSP)?
Medicare Savings Programs are state programs that help people with limited income and resources pay Medicare premiums and, in some cases, deductibles and coinsurance. Enrolling in one can also remove the Part B late enrollment penalty.
Definition and figures from Medicare.gov, checked October 23, 2026. This page explains the term; it does not recommend a plan.
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MSP: the facts
| Item | Fact | Source |
|---|---|---|
| Part B penalty | Enrolling in a Medicare Savings Program generally means no Part B penalty | Medicare.gov: Avoid late enrollment penalties |
| Extra Help | People in a Medicare Savings Program automatically qualify for Extra Help | Medicare.gov: Costs for Medicare drug coverage |
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What does MSP mean in health insurance?
Medicare Savings Programs are state programs that help people with limited income and resources pay Medicare premiums and, in some cases, deductibles and coinsurance. Enrolling in one can also remove the Part B late enrollment penalty.