Medicaid Eligibility: Understanding Asset Limits Under the Affordable Care Act

In this blog post, we will discuss Medicaid eligibility, specifically focusing on the impact of assets on qualification under the Affordable Care Act (ACA). We will explore how the ACA has changed Medicaid’s approach to assets and provide guidance on how to determine your eligibility.

What is Medicaid?

Medicaid is a health insurance program for low-income individuals and families. It is jointly funded by the federal government and individual states, with each state setting its own eligibility criteria. Traditionally, Medicaid eligibility was based on income and assets. However, the ACA has expanded Medicaid eligibility and eliminated asset limits for many individuals.

Asset Limits Under the ACA

Prior to the ACA, many states had asset limits for Medicaid eligibility. This meant that individuals could not have assets above a certain threshold in order to qualify for Medicaid. However, the ACA eliminated asset limits for most individuals who qualify for Medicaid through the expansion of the program.

Under the ACA, individuals who qualify for Medicaid based on their income are not subject to asset limits. This is regardless of whether they qualify through the traditional Medicaid program or the expanded Medicaid program.

Exceptions to Asset Limits

There are a few exceptions to the ACA’s elimination of asset limits. Individuals who qualify for Medicaid based on their disability status may be subject to asset limits in some states. Additionally, individuals who are institutionalized may also be subject to asset limits.

How to Determine Your Eligibility

To determine if you are eligible for Medicaid, you should contact your state’s Medicaid agency. The agency will be able to provide you with information on the specific eligibility criteria in your state. You can usually apply for Medicaid online, by phone, or in person at your local Medicaid office.

Conclusion

Understanding Medicaid eligibility can be complex. However, the ACA has made significant changes to Medicaid eligibility, including the elimination of asset limits for many individuals. If you are unsure whether you qualify for Medicaid, contact your state’s Medicaid agency for more information.