5 myths about Medicaid

| Jan 28, 2020 | Medicaid |

Millions rely on Medicaid to offer them support that is affordable and could be life changing. Since Medicaid is a federal and state program, it can be a difficult topic to understand. Many people don’t know the ins and outs of this program because it’s so dense.

Health insurance can be hard to manage by yourself. Reaching out for advice from friends and family can be helpful, but it can also lead to uneducated answers. Myths can arise easily with misguided information.

Myths about Medicaid

  1. Anyone can receive Medicaid. Medicaid is not for everyone. Medicaid is a health insurance plan that only covers people who qualify. To qualify, you must be a U.S. citizen or legal immigrant and a resident of the state you’re requesting Medicaid from. Medicaid also only provides coverage for those who meet asset requirements.
  2. It does not cover custodial care. Medicaid covers the majority of medical care, such as doctor visits and hospital costs. Medicaid also covers long-term care, if you’re eligible. Unlike Medicare, Medicaid covers custodial care. This means that your long-term health care provider will be able to give you non-skilled services. These services are actions that you cannot do on your own, like bathing.
  3. A prenup will protect you or your spouses’ assets. A prenuptial agreement will not protect your assets if your spouse wants to receive Medicaid. It’s only meant to keep your property separate if there is a death or a divorce. This won’t exempt you from sharing your assets with your spouse for the purposes of Medicaid eligibility.
  4. You should transfer your assets. If you want to be able to meet Medicaid’s limited asset requirement, you should not transfer your assets. Medicaid will impose a penalty if you transfer your assets. The only exception to transferring assets is if you receive a matching value in return.
  5. You can’t receive both Medicare and Medicaid. If you are eligible, you may receive coverage from both Medicare and Medicaid. As stated before, Medicaid is for those who meet the income requirements. In order to receive Medicare, you must be 65 years old or have a disability. Medicare doesn’t look at your income at all. If these terms apply to you, you may be eligible to get coverage from both programs.

Medicaid is reserved for those that can’t pay for necessities, such as health insurance. Health insurance should be available for everyone, no matter their income. In a time of need, health care is very important and could end up saving your life.