Medicaid Is Unwinding
Medicaid is set to start unwinding on March 31st and will continue this process to the end of December 2023, leaving millions in need of health insurance. Before we unpack how Medicaid is unwinding and how we can help how, lets answer a few questions first.
What is Medicaid and how does it normally operate?
Medicaid is one of the largest healthcare programs in the country and serves tens of millions of people each year. It is administered by the state and jointly funded by the state and federal government. It provides health coverage for eligible low-income adults, children, pregnant women, elderly adults and people with disabilities. When people talk about “unwinding Medicaid” they usually are speaking about reducing or repealing Medicaid, but that’s not exactly what is going to be happening over this year.
So what about Medicaid is unwinding?
To answer this question, we need to look back to 2020 when congress passed the Families First Coronavirus Response Act (FFCRA) which extended the duration of Medicaid for many people during the time of the COVID-19 Pubic Health Emergency. Previously, with every year, many people would become ineligible for Medicaid due to changing life circumstances and thus would be disenrolled. The provision, which is called the continuous enrollment provision, helped keep people enrolled in Medicaid during this difficult time when they otherwise would have been kicked off. But now that the public health emergency is coming to an end, so too is this extra help. Starting April 1st, states can begin disenrolling members who had stayed on Medicaid past their normal eligibility. Though it is difficult to get exact numbers, the KFF (Kaiser Family Foundation) estimates by December of this year, 5-14 million people will be disenrolled from Medicaid.
What’s the solution if you are one of the people who are disenrolled from Medicaid?
If you have recently lost insurance, in this case Medicaid, you will qualify for a special enrollment period and the marketplace will allow you to enroll in insurance through them. You may also qualify for a subsidy which will reduce the cost of your insurance. Many people may qualify for a subsidy that will make some health plans available for $0 a month. You can see quotes for insurance using this link (click here!) or by calling us at 615-528-1227 and we can do the quotes for you. There are close to 130 plans with several different networks available on the marketplace in TN so if you would like assistance looking through those and deciding on which insurance carrier is right for you, we would love to assist you with that over the phone or with our health guide we put together (click here for the guide).