Social Security Account

Social security savings accounts are for people with limited income and resources and help pay some or all of their Medicare premiums, deductibles, copayments and coinsurance. There are four Medicare Savings Programs: Qualified Medicare Beneficiary (QMB). Specified Low-Income Medicare Beneficiary (SLMB). Social Security benefits provide partial replacement income for qualified retirees and disabled individuals, as well as for their spouses, children, and survivors. ... The benefit amount someone receives is based on their earnings history, the year they were born, and the age when they start to claim Social Security.