Medicaid will end for millions of Americans in the coming months, and that pushes many into unfamiliar territory: the health insurance marketplace.
FILE - A sign points visitors toward the financial services department at a hospital, Friday, Jan. 24, 2014. Medicaid coverage will end for millions of Americans in 2023, and that pushes many into unfamiliar territory: the health insurance marketplace.
Shopping for affordable insurance that covers regular doctors and prescriptions can be daunting, especially in marketplaces that offer dozens of choices and subsidies to help pay for them. Experts say it helps to start this search with a plan. Here’s a deeper look at the process.Nearly 85 million people are covered by government-funded Medicaid, which focuses on people with low incomes.
Federal officials estimate that more than 8 million people will lose eligibility and leave Medicaid mainly because their incomes have changed.State-based health insurance marketplaces created by the Affordable Care Act are the only places where people can buy individual insurance with help from an income-based subsidy. They can be found through the federal government’sShoppers also can find coverage sold outside these marketplaces, but it may be risky.
Shoppers should understand deductibles and other payments they will need to make before committing to a plan, Smith noted. “It is possible that people will have better access to certain services in the marketplace,” said Jennifer Tolbert, a Medicaid expert at the non-profit Kaiser Family Foundation.Make sure your state program has your current contact information, including a mailing address plus email and cellphone. They will send notifications if they need more information or if someone no longer qualifies for Medicaid.
The goal should be to have new insurance that starts the day after Medicaid ends. That would cut down on temporary coverage losses for regular doctors or important medicines.GETTING HELP
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