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Anonymous
Millionaires Are Qualifying for Medicaid Under Obamacare
2016-02-12 02:15:02 Post No. 22741
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Millionaires Are Qualifying for Medicaid Under Obamacare
Anonymous
2016-02-12 02:15:02
Post No. 22741
[Report]
Millionaires living in states that expanded Medicaid are benefiting from government-sponsored health insurance, and taxpayers are footing the bill for it.
In states that expanded Medicaid, people with high net worths and low monthly incomes qualify for Medicaid because of loosened eligibility requirements implemented under Obamacare. And in rural states like Iowa, Americans whom many would consider wealthy are taking advantage of this “loophole” and enrolling in coverage paid for by taxpayers.
Jesse Patton, an insurance broker living in Iowa, has had clients with net worths ranging from $2 million to $5 million, which often stem from farmland or assets from divorce settlements. And those clients, he said, are enrolled in Medicaid in expansion states like Iowa.
“It was designed to help the lower-income population,” Patton told the Daily Signal of Medicaid. “But without the asset test, there are folks that have the financial means and assets there that are good at figuring out how to work the system and capture a benefit they’re entitled to.”Sign Up
Under the Affordable Care Act, states that opted to expand Medicaid did away with an asset test, which was previously used to determine eligibility in regular Medicaid. To qualify for the program, the government considered a combination of income and net worth.
Now, under the law, eligibility in states that did and did not expand Medicaid is linked solely to modified adjusted gross income, keeping it in line with the tax code.
“This was a move to standardize as much as possible, so you’re bringing in more people, but you’re not complicating the system to where you can’t figure it out,” Joy Wilson, director of health and human services policy at the National Conference of State Legislatures, told the Daily Signal.
http://www.nationalinterest.org/blog/the-buzz/revealed-millionaires-are-qualifying-medicaid-under-15181
