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Taking a look at statistics on Medicaid

On Behalf of | Feb 27, 2023 | Medicaid Planning | 0 comments

Whether you face financial hardships as a result of health problems or you struggle with a disability, it is important to understand how Medicaid could help out. Many older adults, disabled people, low-income workers and others secure Medicaid benefits to help them receive services they are counting on. However, it is vital to approach the application process correctly, especially since seemingly minor errors could impact your ability to become approved.

Looking at data on Medicaid sheds light on the scope of this program and how it can help older adults.

Data on the Medicaid program

According to Medicaid.gov, 15% of enrollees in the Medicaid program are also enrolled in Medicare. Looking at this data in another way, 12 million of those enrolled in Medicaid also have dual eligibility for Medicare and take part in both programs. If you receive Medicare and also want to receive Medicaid benefits, you should take a close look at dual eligibility.

Among seniors with low incomes, 7.2 million receive health coverage through Medicaid while enrolled in Medicare. In addition, Medicaid covers 4.8 million disabled people who are also Medicare enrollees.

Pursuing Medicaid benefits

Whether you want to obtain Medicaid coverage to help cover nursing home costs, in-home attendant expenses or other costs, it is critical to carefully review factors that could impact your eligibility. Depending on your financial circumstances, setting up a trust could help you become eligible to receive benefits.

When it comes to Medicaid eligibility, there are many factors that can affect your ability to qualify and it is pivotal to have a comprehensive understanding of your options.