Good health is important to everyone, but with skyrocketing medical costs and a slumping economy now is harder than ever to pay for good quality Health Care. If you can't afford to pay for medical care right now, Medicaid can help provide the resources necessary to ensure you and your family have a long and healthy life
Medicaid is a state run program for low-income individuals and families. Many groups of people can gain access to Medicaid as long as they meet certain requirements set forth by their State's Medicaid administration. Medicaid requirements can include age, whether or not you are pregnant, disabled, your financial standing or if you are a US citizen.
September 28, 2011
The number of uninsured Americans has already reached 50 million. But this figure could have been higher if it weren’t for the improved access to the Medicaid and Children’s Health Insurance Program (CHIP).
Of the 50 million uninsured Americans, 41.7 million are adults without children. This is partly because they aren’t eligible for public health coverage or assistance in 26 states. According to a report submitted by Kaiser, only seven states provide full Medicaid coverage to childless adults.
More facts and figures
The current Medicaid program excludes individuals under the age of 65 with no dependent children from health insurance coverage. Medicaid covers individuals and families with an income at or below 133% of the federal poverty line for an individual ($14,483.70) to a family of four ($29,725.50).
All states continue to maintain and improve both health insurance programs despite state budget cuts and a higher enrollment percentage.
With that, many children were able to benefit from the state implementations for Medicaid and CHIP application. Twenty states expanded eligibility qualifications for children. Fourteen states no longer require face-to-face interviews for children and some leniently allowed them to be eligible for a year’s worth of Medicaid benefits.
For children: Colorado, Delaware, Kansas, Minnesota, Montana, Nebraska, North Carolina, Oregon, Tennessee, Wisconsin
For pregnant women: Colorado, Delaware, Minnesota, Nebraska, North Carolina, Wisconsin
For parents and other adults: California, Colorado, Connecticut, District of Columbia, Oregon
STREAMLINED ENROLLMENTS OR RENEWALS
For children: Alabama, Colorado, Iowa, Louisiana, Maryland, Montana, New Jersey, New York, Ohio, Oregon, South Carolina, West Virginia
For pregnant women: Connecticut
For parents and other adults: Colorado, Nebraska, New York
By 2014, millions of adults will be insured once health reform expands Medicaid eligibility to 133% of the federal property level and restructures health coverage based on income.
Individuals and families with an income ranging from 133 to 400% of the federal poverty line are not left out. Their insurance coverage will be in the form of state-based health insurance exchanges. If a patient is qualified, he or she becomes eligible for premium or cost-sharing assistance for private insurance programs.
September 23, 2011
One point of eligibility for Medicaid is that applicants must not have assets worth more than $2,000. Assets include individual retirement accounts, stocks, checking and savings accounts, cash on hand, vehicles and residence/s.
If money has become too tight and you are in desperate need of financial health assistance, you might want to consider transferring some of your assets. This is an option provided by Medicaid. However, certain penalties may apply.
Here’s how you can transfer the title of your property in order to become eligible for Medicaid.
- Gather all your assets. Compute the cash value of all your existing assets and subtract $2,000 or $3,000 (if you’re married) from it. The difference will be the amount of property you have to transfer.
- Select the ones you really need. Since you will have to dispose some of your properties to be eligible for Medicaid, you have to determine the assets you need the most. Think about those you can live without and properties you think you’ll still need in the future.
- Process the transfer. Dispose of the properties at fair-market value and use the money you get to pay for other necessary expenses such as past-due medical expenses, prescription drugs and medical supplies you currently need. Keep the receipts and other documentation so you have evidence of how your assets were sold and how your cash was spent.
- Turn them in. Submit all documents to your local Medicaid office. There is usually a waiting period of 60 days before they consider your application. But if you are currently under the resource and asset limit, you may not have to wait. Your local Medicaid office will review all the documents. The processing your application will depend on the results of their evaluation.