Medicaid is a program funded jointly by the federal and state governments to help pay for healthcare. It is intended for people of all ages with very low incomes and few assets. Eligibility requirements for Medicaid vary among different states. People who are in Medicare may also be entitled to Medicaid, which helps pay for some of the expenses not covered by Medicare.
If the people in question have a very low income but have assets, such as a house or equity investments, they may not meet the requirements of Medicaid. To meet the requirements, they should reduce their assets. That is, they may have to sell their shares and other assets and use the money to pay for medical care until their income plus assets are low enough to be accepted. To avoid this, some people put their assets on behalf of other people, often family members. However, to qualify for Medicaid, they may not have transferred those assets within the previous 3 years to need health care. In some states, the person may be allowed to keep their home so that certain family members can stay there. However, when the family members leave, the government can sell the house to recover the money they have spent on health care.
If people meet the Medicaid and Medicare requirements, most health care costs are covered.
Medicaid is the primary public funder for long-term care, such as skilled nursing care (including nursing home care). For seniors, Medicaid often pays for residential expenses. Medicaid must offer long-term care to eligible individuals who are 21 years of age or older and who participate in the Medicaid program. In addition, it also helps pay for the following:
- Hospital care
- Laboratory tests (for example, blood and urine tests)
- Diagnostic tests (such as x-rays)
- Medical visits
- Skilled nursing care
- Home care
Since each state administers its own Medicaid program, covered services vary between states. In some, Medicaid helps pay for prescription drugs, dental care, eyeglasses, and intermediate-level nursing care, which involves less care than those provided through skilled nursing services, but to a greater degree than care. personal Its purpose is to maintain a person’s situation and, if possible, improve it.
Health professionals who provide care to people covered by Medicaid must accept what Medicaid pays as their full reimbursement. However, since this rate is usually low, some doctors choose not to care for people covered by Medicaid. In addition, some residences do not accept Medicaid insurance.