Millions Could Lose Medicaid Coverage
Some big changes are underway for Medicaid recipients over the next few months.
It is estimated that around 14 million people could lose Medicaid coverage in the next few months if they are found ineligible.
Here’s the background
At the beginning of the pandemic, around March 2020, the federal government prohibited states from kicking people off Medicaid, even if they were no longer eligible.
But all that is about to change. In December 2022, the federal government passed a federal spending bill that permits states to begin Medicaid redetermination on April 1, 2023, regardless of the PHE (Public Health Emergency) end date.
At that time, Georgia will be required to redetermine eligibility for approximately 2.6 million Medicaid and PeachCare for Kids® members.
Given the number of people affected by these changes, I am sure they will be overwhelmed and delays will take place. Better to stay proactive in the processing of your applications.
Redetermination start dates can vary from state to state. In some cases, you may have to file for reeligibility. If you get a form from GA Medicaid to reapply, please do not ignore that.
Steps to follow
From the GA Medicaid Site: Georgia Medicaid recipients can take action now. Through their Gateway account, they should make sure that their information— phone number, address, job or income, and number of people in their household—is up-to-date. Recipients are also encouraged to select “Email” notifications for the fastest alerts.
But if you or your family member is found to be ineligible for Medicaid, there is a possibility they can get covered under Obamacare!
Loss of Medicaid coverage gives you a special enrollment. That means you can enroll into Obamacare outside of open enrollment, which is from November 1st to January 15th. You have up to 60 days from the time of loss of Medicaid coverage to apply for marketplace insurance.
There is still a special enrollment right now for people whose incomes fall between 100% to 150% of the Federal Poverty levels. People whose incomes are below the 100% level may be eligible for Medicaid depending upon several criteria that include your immigration status, how long you have had the status, and other things.
The eligibility criteria and income levels can vary from state to state, but these are the typical income levels here in Georgia.
What this means is that if you or anyone you know whose incomes fall under these levels, you may still be eligible for enrollment for Obamacare.
Eligibility for Obamacare is dependent on many things including the number of people in your household and your household income.
It is highly recommended that you seek guidance from an experienced health insurance broker to help you with the application and plan the selection process.
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate; however, we make no representation as to its completeness or accuracy. Please note: investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting, or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax, or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
| Moneywise is hosted by Rajesh Jyotishi with Shalin Financial Services, Inc.
Rajesh Jyotishi is a registered representative of Dempsey Lord Smith, LLC, which is a registered broker-dealer and a member of FINRA/SIPC. Advisory Services are offered through Dempsey Lord Smith, LLC.
Rajesh has been a resident of Atlanta since 1975 and in the financial services industry since 1991. For questions, he can be reached at 770-884-8175 or at RJ@shalinfinancial.com.
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