Getting the right plan is crucial to your health. However, it can also be confusing. Knowledge about various plans, their costs, and eligibility requirements is necessary. Therefore, it is imperative that before getting a plan, you make an informed choice about the plan that best suits your needs.
Depending on where you work, you may be able to receive a medical plan through the company you work for. Medical benefits are a large factor in people’s decisions of where to work, so offering such benefits are a benefit to you as an employer as well; visit http://www.taylorbenefitsinsurance.com/ to learn more.
Plan Options
Choosing a plan like an IEHP Medicaid health plan is a great way to get affordable health coverage. The program has a variety of options for people in different circumstances. The best method for you depends on your age and health status. For example, if you are in your fifties or older, you may want to choose a plan that covers maternity care. On the other hand, you can select a program covering family planning if you are young and healthy.
However, the Department of Health and Human Services (DHS) has proposed limiting health plan options on neighboring islands. This measure will affect islanders who rely on Medicaid. Because neighboring islands have limited health care resources, too many plan options would make it more challenging to coordinate limited resources. An earlier bill, however, would have prohibited the DHS from reducing the number of plan options on neighboring islands and would have given all Medicaid enrollees the choice of four health plans.
Costs
Medicaid health plan costs are a significant part of national health spending. The federal government pays about two-thirds of the program’s cost, while states pay the remainder. Medicaid has grown significantly over the last several years and comprises almost 17% of health care spending or about 3% of GDP.
The program is designed to help low-income people afford health insurance. The amount per enrollee can vary significantly by state and by age group. For example, the cost per enrollee can be three to four times higher for disabled individuals than adults.
The ACA allows states to earn a five percent federal match on regular Medicaid expenditures for two years. However, this national match does not apply to newly eligible adults, a disproportionate share of hospital payments, or other expenses. Ultimately, the state would gain about 90% of the federal match, covering more health care. However, the ACA is not perfect, as states have significant discretion in determining the amount of federal money they receive to fund Medicaid.
Eligibility Requirements
If you don’t have insurance and don’t want to pay high medical costs, you can apply for a MEDICAID health plan. This program is meant for low-income people who have limited or no income. However, Medicaid does not cover the entire cost of healthcare. For example, a family of four may have an income of $60,000, but they may still be eligible for a health plan.
The first eligibility requirement for Medicaid is residency in the state. Medicaid is for people who live in the condition they apply for, are citizens of the U.S., or meet specific criteria of residence outside the country. Non-citizens may qualify, but this will depend on the state’s funding.