Medicaid Grows as Possible Healthcare Option in Estate Planning
A recent article in the Wall Street Journal highlights how Medicaid, especially after the passing of the
Affordable Care Act, is changing the way many Americans look at healthcare and retirement planning.
Though originally enacted as a plan to provide health insurance to the needy, Medicaid is becoming
more widely available to those who previously had been ineligible.
Medicaid is a joint federal and state health insurance program offered primarily to the poor, pregnant
women, parents, children, the elderly, and people with disabilities. However, beginning in 2014
Medicaid coverage will expand to include anyone who meets specific income level guidelines as
enacted in the 2009 healthcare reform law.
Unless the Supreme Court issues a ruling declaring the Medicaid portions of the law unconstitutional,
all states will be required to provide Medicaid coverage to those earning up to 133% of the federally
determined poverty level by 2014. However, some states, such as Colorado, Minnesota, and
Washington, have already adopted the expanded eligibility criteria ahead of the 2014 deadline.
In addition to the expanded coverage availability, states have also begun tackling the application
process that has seemed so daunting and confusing to many. Simplified applications as well as online
application processes are becoming more common.
States are also addressing the difficulty Medicaid recipients face when traveling across state lines.
Because states have different eligibility requirements, it can be very difficult for a person to move to a
new state and still rely on Medicaid coverage. States are now adopting a database sharing strategy
that will allow Medicaid recipients to more easily transfer their information when moving across state
Experienced estate planning attorneys Fayetteville AR of the Deborah Sexton Law Office PA offers
estate planning and business planning resources to residents of Fayetteville AR. To learn more about
these free resources, please visit http://www.arkansas-estateplanning.com today.