If you are a Medicare policyholder that needs extra financial assistance, you may be dual eligible and qualify for Medicaid in addition to your Medicare coverage.
While Medicare begins the process of rolling out changes as determined by the Inflation Reduction Act, many policyholders are probably breathing a sigh of relief that their healthcare will soon be a bit more affordable. This can come with a lot of benefits—the ability to save more money, having extra funds for necessities, being able to afford more comprehensive care such as a Medicare Advantage Plan, or even having some extra money for entertainment and hobbies that bring you joy. The less you have to pay for your healthcare between visits, medications, transportation, and home care, the more you will have for other important aspects of your life. Another way to save extra money and spend less on your healthcare is to look into whether you qualify for Medicaid while on Medicare, making you “dual eligible.”
How Does Medicaid Enrollment Assist Medicare Policyholders?
Medicaid is funded by the federal government as well as states for the purpose of offering affordable healthcare to those with limited incomes and assets. This includes anyone who qualifies, even if they are a Medicare policyholder. According to the AARP, Medicaid can help to cover some Medicare premiums and deductibles, in addition to other medical needs, such as vision, dental, physical therapy, and home hospice or long-term care. This extra coverage can make a big difference for those who need some extra help financially and are struggling to keep up with their medical bills.
Who Qualifies?
Knowing who is dual eligible isn’t always easy. Qualifications based on income levels change over time, and there are variations between states on who qualifies. If you need assistance, it’s important to look into your state’s qualification requirements to determine if you are able to enroll. If you need help to determine if you qualify, don’t be afraid to ask someone you trust or take advantage of a free consultation with your trusted benefits advisor, such as Aging Benefits Advisory. One of the most common issues Medicaid runs into is simply that those who qualify never apply for enrollment into the program. Taking the time to determine your eligibility can give you the confidence to apply and create a more comfortable living situation for yourself.
Contact Aging Benefits Advisory Today!
If you need help navigating the world of senior health insurance, our advisors at Aging Benefits Advisory are here to assist. Take advantage of our free consultation to ensure that you receive the plan for your budget and needs. We specialize in Medicare Advantage, Medicare Supplements, Dental, Vision, and Final Expense insurance for the senior market of Pinellas County, Pasco County, Manatee County, Hillsborough County, Polk County, Sarasota County, Citrus County, and Marion County, Florida. If you would like a free consultation, contact us online or give us a call at 727-266-0355. For more information, follow us on Facebook, Pinterest, and YouTube.