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Medicaid 101 888011000 110888 MoneyTips Medicaid Essential Medicaid and CHIP (the Kid’s Medical insurance Program) exist to guarantee health protection for low-income Americans. CHIP is created to cover kids of households who have incomes too expensive to qualify for Medicaid but too low to afford private coverage. Many people think about Medicaid as being for younger Americans and Medicare for older Americans, however this is not strictly the case– for example, some assisted living home and long-term care protection is included under Medicaid requirements. Each state determines its own Medicaid eligibility requirements, in accordance with minimum federal standards. The federal government needs certain groups to be covered by Medicaid, consisting of “unconditionally needy” people (i.e., recipients of SSI and families with dependent kids receiving money support). Nevertheless, states maintain broad discretion …

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Medicaid Basics

Medicaid and CHIP (the Kid’s Health Insurance Program) exist to guarantee health protection for low-income Americans. CHIP is developed to cover kids of households who have incomes too expensive to qualify for Medicaid however too low to pay for private protection.

Lots of people consider Medicaid as being for more youthful Americans and Medicare for older Americans, but this is not strictly the case– for example, some nursing home and long-term care coverage is consisted of under Medicaid requirements.

Each state identifies its own Medicaid eligibility requirements, in accordance with minimum federal guidelines. The federal government requires particular groups to be covered by Medicaid, consisting of “categorically needy” individuals (i.e., recipients of SSI and families with dependent kids receiving cash help). Nevertheless, states keep broad discretion …

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