sell Top Ten Medicaid Myths
Medicaid is the nation's largest condition coverage program. The agenda was originally a welfare-based condition coverage program, but has come to be a condition assurance and long-term care agenda for those who are struggling financially and for habitancy with disabilities. Because of its complexity, there is a lot of misunderstanding about the Medicaid program.
Top Ten Medicaid Myths
Myth: Medicaid is obsolete.
Fact: Medicaid is an innovative agenda that has changed as the American condition care system has evolved. Straight through the waiver process, states experiment with benefit design, eligibility, and delivery systems. Currently, several states are experimenting with transitioning long-term care services to home based setting.
Myth: Medicaid is an inflexible program.
Fact: Medicaid has minimum federal standards, but states have flexibility to customize their Medicaid agenda beyond those minimum standards. In many ways, Medicaid operates like fifty private state coverage programs.
Myth: Medicaid spending is out of control.
Fact: The cost increase per enrollee for Medicaid is lower than comparable coverage under Medicare, private condition insurance, and employer-sponsored insurance. Medicaid costs continue to increase, but so do condition care costs across the board in the American condition system.
Myth: Medicaid provides "Ritz Carlton" coverage.
Fact: Medicaid has a unique role as a protection net for the weaknesses in our condition system. The populations served by the Medicaid agenda wish services that are not easily ready in typical condition assurance plans. Medicaid not only functions as an acute care plan for low-income families, but it is also the only alternative ready for many individuals with disabilities and low-income elderly who wish long-term care.
Myth: Medicaid covers too many habitancy and competes with private insurance.
Fact: The vast majority of the habitancy who are covered by Medicaid do not have entrance to other insurance. Many work for employers who do not offer coverage. Many are priced out of the private shop because of illness or disability. Studies of Medicaid have demonstrated that Medicaid as an alternative to private coverage is limited. Those who are newly enrolled into Medicaid were previously uninsured.
Myth: Medicaid is for habitancy who don't work.
Fact: Working families make up 65% of those who receive Medicaid coverage. For those who are not in the workforce, like habitancy with severe disabilities, Medicaid supplements cash assistance and makes ready important condition care coverage.
Myth: Medicaid foots the nursing home bill for affluent seniors.
Fact: Medicaid is only ready to the very poor or those with condition care expenses that have depleted their savings. The new Medicaid rules make it difficult to replacement assets to qualify for nursing home care. About three out of five nursing home residents are not on Medicaid at the time of their admission. Even when a person's assets are depleted, they still must apply their income towards the cost of care, except for a meager personal needs allowance.
Myth: Federal financing of Medicaid encourages wastefulness.
Fact: while hard economic times, more habitancy need Medicaid coverage and spending increases. But, unlike the federal government, most states are required to balance their budgets so they are hindered from over spending. States struggle to control Medicaid spending even as more habitancy are covered.
Myth: The Medicaid agenda is inefficient.
Fact: Medicaid has lower administrative costs per claims paid than private sector condition insurance. And, year in and year out, the per capita increase of Medicaid is about half the rate of increase found in private sector condition insurance.
Myth: Medicaid is a second rate program.
Fact: There is enormous evidence that Medicaid has improved entrance to primary and preventive condition care comparable to that of those with private insurance. In particular, Medicaid's inclusion of pregnant women and children has helped sacrifice baby mortality and acute condition conditions.
The rules and regulations concerning Medicaid are not only very complicated, but also work independently from, and often contrary to, tax laws, veterans benefit and estate planning. Just considering to private circumstances is critical. Don't go it alone. Call me at (203) 488-5586 to discuss definite situations to avoid manufacture an inadvertent mistake.
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