Medicaid is a form of health insurance that is funded by both Federal and State government, and each state is responsible for putting Medicaid into practice for its residents. It is meant to help those who are in a lower income bracket and cannot afford the health insurance that they need. But there are certain requirements that must be met in order for an individual or a family to receive Medicaid benefits. A lower income is not sufficient to be eligible for this form of health insurance. Eligibility requirements may differ slightly from one state to another, but the basic requirements are usually the same for all states. Medicaid information will enable you to learn more about how the process works, ensuring that you will have the facts you need in order to obtain the proper insurance for your medical expenses.
What are some of the factors that are taken into consideration in order to determine eligibility for Medicaid benefits?
- A person’s age is one factor that is considered.
- Income and assets are factored into the equation when evaluating a person’s need for Medicaid. Assets include bank accounts, property, and other items that can be sold for cash. There are special rules that apply to those who reside in a nursing facility.
- Disabilities, such as blindness, are considered.
- Pregnancy is another factor.
- A person must be a U.S. citizen or a lawful resident of the United States. There are special circumstances where an individual who is not a resident of the United States may still receive Medicaid, such as a medical emergency requiring treatment or pregnancy.
If you feel that you may be eligible for Medicaid benefits, you can apply in one of a number of different ways. You can personally go to your local Social Security or Department of Social Services office to fill out an application. You can request that an application be mailed to you, or you may be able to fill out an application over the phone by speaking to a Medicaid representative at the appropriate office. Online applications may also be available to you.
Medicaid information needs to include the documents you may be required to produce in order to apply for Medicaid. These documents are:
- Birth Certificate.
- ID cards for Medicare and any other health insurance policies you may have, including what coverage these policies offer.
- Pay stubs for the last three months.
- Information on stocks, bonds, certificates of deposit, IRAs, Keoghs and bank accounts, showing activity for 36 months prior to the date of the Medicaid application. You will also have to show verification of any accounts that have been closed within the last 36 months.
- Any life insurance policies that are in effect with verification of the cash value of each policy.
- Utility bills and other monthly expenses, including rent, health insurance premiums and medical bills that need to be paid out-of-pocket. It is always a good idea to show expenses for the last three months that are prior to the filing of the Medicaid application.
- Titles to automobiles and deeds to all owned property.
- Verification of all taxes that require payment, such as real estate taxes.
- Social Security card.
- Marriage Certificate or Death Certificate if spouse is deceased.
- Verification of burial policies or prepaid funeral arrangements.
- Power of Attorney, if one exists.
- Proof of citizenship as a United States citizen.
- VA discharge papers, if applicable.
- Copy of automobile insurance policy and premium.
If you have a disabled child living in your residence, your child may be eligible for Medicaid if you are not, as eligibility depends on the child’s circumstances and does not reflect on the parents. And if you are receiving Supplemental Security Income, in most cases you will also be eligible for Medicaid. In some states, this is an automatic process.
Medicaid information can provide you with the facts that will help you and your family to get what is needed pertaining to medical insurance. Healthcare costs can run very high, and Medicaid can help to offset those costs for low-income individuals and families who fit the eligibility requirements.