Up to 15 million people nationwide are expected to lose their Medicaid coverage in the coming weeks and months.
That policy came to an end April 1.
Now, states are unwinding people who still meet state Medicaid eligibility requirements from those who dont.
No longer qualified for Medicaid? Here are ways tosave money on medical care.
States are expected to take up to 12 months to complete the unwinding process.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
How Will I Be Notified?
Many states have already started sending out renewal and recertification forms in the mail to Medicaid beneficiaries.
Did you know?
If you dont complete the paperwork, your state can cancel your Medicaid coverage.
But you might not get notified if your contact information is outdated.
Thats why its important to check and confirm your information is correct.
When Will Coverage End?
Its different in each state.
Some states are checking eligibility faster than others.
But even for states that began the unenrollment process April 1, the rollback wont happen all at once.
You still have time to renew your coverage or reach out with questions.
What Options Do I Have If I Lose Medicaid Coverage?
Your best option is to explore health insurance plans through the Affordable Care Acts Health Care Marketplace athealthcare.gov.
(Heres an explainer onhow to sign up for insurancethrough the Affordable Care Act.)
Still, plans available on the marketplace may come with higher co-pays and out-of-pocket costs than Medicaid.
Aspecial enrollment periodgives you up to 60 days to enroll in a marketplace plan after losing your Medicaid coverage.
you’ve got the option to also explore these health insurance coverage options.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer at The Penny Hoarder.
She focuses on retirement, investing, life insurance and taxes.
It sounds appealing right?
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