05 Nov 2013

Medicaid getting a leg up because of ObamaCare

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With the entire country talking about ObamaCare and how it’s affected the way we think about healthcare, there has been an interesting side effect. Medicaid, the federally funded healthcare plan that provides low-income families with health insurance, has seen a boom in Medicaid awareness since the Affordable Care Act exchanges was launched this month.

This is such a favorable event for the public since this brings the spotlight to Medicaid and the benefits it provides to so many that cannot afford it. As I provide Medicaid planning, I have seen more activity begin since the launch of ObamaCare.

The benefits of Medicaid are very similar to other healthcare plans, but there are several pre-requisites prior to individuals or families enrolling. The basic enrollment requirements are:

  • children under age 6 in families with income below 133 percent of the federal poverty ($25,975 for a family of three in 2013);
  • children aged 6-18 in families with income below the poverty line;
  • pregnant women with income below 133 percent of the poverty line;
  • parents whose income is within the state’s eligibility limit for cash assistance that was in place prior to welfare reform; and
  • most seniors and persons with disabilities who receive cash assistance through the Supplemental Security Income (SSI) program.

There are also additional requirements, including asset levels.

Navigating Medicaid’s eligibility requirements can be an enormous task if you don’t’ know the ins and outs of what affects enrollment. Although this program is a massive value to Americans that can’t afford traditional healthcare plans, it is a very tricky and complicated process (as most government programs are).

So whether you think the Affordable Care Act is a positive or negative program, there are constructive side effects to all the debate, bickering and back and forth. Medicaid should be a staple in portfolio of those who are eligible.

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