What to do if you’re losing Medicaid coverage?
During the pandemic, Medicaid enrollment skyrocketed by 30%, bringing the total to about 83 million people. However, tucked inside the $1.7 trillion Omnibus spending bill that funds the federal government is a provision that allows states to start pushing people off of Medicaid who were on it during the pandemic. Here’s what you need to know.
What’s happening?
Since January 2020, when the public health emergency was first declared by President Trump, Medicaid enrollment was expanded to make it easier for people to enroll. This pushed the number up to about 83 million people. However, tucked inside the $1.7 trillion Omnibus spending bill that funds the federal government, there is a provision that allows states to start pushing people off of Medicaid who were on it during the pandemic. The Department of Health and Human Services predicts that about 15 million people will lose their Medicaid coverage due to the provision in the Omnibus spending bill.
The good news: Five million of the people who lose coverage will be eligible for the Affordable Care Act (ACA), also known as Obamacare. If you are on Medicaid and lose your coverage, that qualifies as a lifechanging event that will allow you to qualify for an ACA policy during a special enrollment period. These ACA policies offer better benefits than Medicaid, and almost all providers accept them. Additionally, you may qualify for a subsidy (money as tax credit) that will cover a large part or all of the premium (the amount you pay for health insurance each month) depending on your income level. Many will qualify for an affordable health insurance plan that’s less than $10 or even FREE!
How do you know if you qualify for an ACA policy? How do you find out what your subsidy is?
The easiest way to do this is to reach out to an insurance professional who works specifically with ACA/Obamacare health insurance. My Choice Health Insurance is a Obamacare health insurance agency, we’re staffed with experienced professionals who are available to help you with qualifying for a subsidy. You can give us a call at (972)728-0386. We’ll be happy to talk to you about this issue and walk you through the process, explain what you qualify for, and enroll you in an affordable health insurance plan. We’ll be able to tell you based on your income, what your subsidy will be, and it may cover 80%, 90%, or even 100% of your premium on an ACA policy.
What are your next steps?
Big changes are coming in April 2023, and you better believe it’ll affect your Medicaid coverage. Now, don’t go freaking out just yet, because the law requires that states reach out to you in multiple ways to let you know if you’re one of the millions of Americans at risk of losing your coverage. But hey, don’t just sit there and twiddle your thumbs! It’s time to take action and explore your other health insurance options before it’s too late. And who better to turn to than My Choice Health Insurance? We have your back and can help you qualify for other options. So what are you waiting for? Don’t get left in the dust, act now and beat the rush.
If you’re losing your Medicaid coverage you may qualify for an ACA policy with big subsidies (tax credits) that will cover all or most of your premium (monthly insurance cost). Don’t wait until the last minute, call My Choice Health Insurance at (972)728-0386 our services are FREE!
Stay informed and take action today!
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Mimi Ima – The Health Insurance Queen