Should I Continue Medicaid Coverage or get an ObamaCare plan?
I am a 53 yr-old teacher, unemployed, with MANY declining health needs. I’ve been searching and feel that despite my experience, I will be passed over for hiring due to health needs (various frequent appointments and quite a list of required prescriptions I take).
I’m thinking that the fastest way to get back to some sort of feasible work is to begin just substituting, there’s plenty of work there and still allows me to keep appointments.
Will Medicaid “cut me off” as I begin to earn more than just what I currently receive on unemployment?
I probably would qualify for disability, but still want to remain working (AND teaching, which I love) as long as I can…..and then…..I would be thrown into finding a health care plan and be out of the open enrollment timeline as well as have MANY pre-existing conditions + just plain not know where to start….HELP AND ADVICE are welcome and sought at this time.
Answer
Medicaid eligibly is based on income in many states, in others a Marketplace plan will be your best bet. Assistance is based on actual Modified Adjusted Gross Income and the Federal Poverty Level.
For your specific situation the cheapest option could actually be staying on Medicaid and making sure your income doesn't put you over. A Marketplace plan could be smart, however your going to have to rely on health savings accounts and deductions to ensure you get assistance, and if your adjusted income gets too low you could end up getting better value from Medicaid. It's not an easy choice, but there are lots of options for low cost coverage.
No matter what way you go, consider out-of-pocket costs. With a lot of medical needs, you don't want to start a policy mid-year. Even if you technically could qualify due to special enrollment. Remember you don't have to pay back Medicaid subsidies, so that is a bonus.
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I am a 55 year old male with an annual income of $10,000 or less. I am wondering if I qualify for medicaid. I don’t earn enough to pay for my health insurance. Any information you forward me will be greatly appreciated.
Many thanks