Health Insurance
 

My domestic partner and I have had our insurance as a group plan thru our farm partnership which is a licensed business. It will be cancelled as of November 31 this year. (paid nearly 100,000k for insurance in the last 10 yrs.) That means that the premiums will no longer be tax deductible as a business expense. I went on the government site and filled out the form and was told we are eligible for Medicaid! We sold a business and farm in July and moved. Neither are working at this time and our income is from notes we hold on propertys sold. Person I spoke with sounded about 12 and said I was correct in claiming only the interest from payments on investments. I was told the state would contact me..that was 2 weeks ago. We paid cash for our new farm and are very lucky in that we have no debt. Not bragging but, we have about a million dollar portfolio and are eligible for Medicaid!!! Haven't talked to an attorney yet, our insurance agent said "go for it". Anyone else have any insight about this?? How is our government going to pay for this? I have never even had an unemployment claim and I paid my school loans on time. LOL

Most resources have been gradually removed from consideration for a number of welfare programs. One reason is that they are frankly hard to document and second lead to bad press.
One of the serious objections to Obamacare that I had was this idea that if one had a retirement account, even the income was excluded as long as you didn't take it out. I'm not a hundred percent sure but I think Roth withdrawals don't count at all even if taken out.
So the rest of the tax payers pay for people's health insurance who could be very rich indeed.
It has leaves a sour taste to know that soneone here posting about the wonders of obamacare subsidies actually could more than afford to pay for it but chooses to hold back starting their 401k or other IRA withdrawals until eligible for Medicare to keep accumulating at a plush retirement.

Being eledgible for Medicare is based on income, not assets.

Medicaid on the other hand is based on poverty. It is welfare. You need to be relatively broke, if not the government wants you to spend your own money until you are.

A good lawer well versed in business structures, and the social security system is a good asset for you. If you can't find a good lawyer then just do the best you can.

Your group plan may have been cancelled. That does not mean you can't get another group plan that will still be tax deductible.

Roth IRA is funded with dollars that have already been subject to tax once, and the income is not taxable (from the ROTH).

Which is why a person with a large income from roth iras could still be eligible for Medicaid.

BE CAREFUL! The way the system is set up, if your income is below a certain point, you are not eligible for any government subsidy and MUST be shuttled into Medicaid. What they don't tell you--and what may be a rude surprise for millions--is that if you are over the age of 55, the state is entitled to a lien against your estate for repayment of whatever health care expenses are paid on your behalf. So in effect, taking anything from Medicaid (at least if you're over 55) is not welfare--it's a LOAN! What's more, even if you never use Medicaid, just being on the rolls can result in the lien for reimbursement being placed against your estate because of certain alleged "costs" attendant to your participation in the program. Google "Medicaid," "reimbursement," and "lien" if you don't believe me. Truly frightening and absolutely astonishing that people are being forced into this situation.

It's my understanding that the clawback provision is only for long term care beyond 100 days in a skilled nursing facility. It may vary from state to state so you might verify that for your particular state.

Maddy that is what I am worried about. My current insurance broker told me to apply at healthcare.gov. I did and the results are what I posted. I have no roth IRA or anything like that. I have been self employed for over 20 years. I have been fortunate to make good real estate investments that have paid off. My Insurance has been Blue Cross Blue shield for the duration. I have now been told to wait on the state adjuster. I am kind of in limbo. My partner has extremely expensive prescriptions and who knows if a major event is around the corner. I would gladly continue to pay for my current plan at 980.00 per month BUT we have been cancelled!! With no other recourse.

Here are some quotes from a document specific to West Virginia. It looks like it's only about long term care.

Whose estates will be affected?
Recipients, age 55 or older, whose nursing home and/or community based waiver services were paid by Medicaid.

What costs will be recovered?
Any payments by Medicaid for:
Nursing home, ICF/MR care or home and community based waiver care (this is a special program that allows recipients to receive medical services in the home or a community – basedsetting instead of a nursing home):
Related hospital or prescription drug services provided while recipient was in one of the listed programs.
https://secure.wvmi.org/wvmedicaid/D...ry_Program.pdf

I'm only 53! i'm not worried about nursing care. When it comes to that they can have our assets. I have no children and don't care about leaving anything to anyone. I care about having the health benefits I have paid for these many years to continue. I didn't cancel my coverage it was cancelled for me.

What is recoverable from a person's estate varies from state to state. The following is from the Medicaid.gov website:

State Medicaid programs must recover certain Medicaid benefits paid on behalf of a Medicaid enrollee. For individuals age 55 or older, states are required to seek recovery of payments from the individual's estate for nursing facility services, home and community-based services, and related hospital and prescription drug services. States have the option to recover payments for all other Medicaid services provided to these individuals, except Medicare cost-sharing paid on behalf of Medicare Savings Program beneficiaries.

Under certain conditions, money remaining in a trust after a Medicaid enrollee has passed away may be used to reimburse Medicaid. States may not recover from the estate of a deceased Medicaid enrollee who is survived by a spouse, child under age 21, or blind or disabled child of any age. States are also required to establish procedures for waiving estate recovery when recovery would cause an undue hardship.

States may impose liens for Medicaid benefits incorrectly paid pursuant to a court judgment. States may also impose liens on real property during the lifetime of a Medicaid enrollee who is permanently institutionalized, except when one of the following individuals resides in the home: the spouse, child under age 21, blind or disabled child of any age, or sibling who has an equity interest in the home. The states must remove the lien when the Medicaid enrollee is discharged from the facility and returns home.

http://www.medicaid.gov/Medicaid-CHI...-Recovery.html

Even if a state's laws do not presently allow for the recovery of certain medical costs, I would be concerned about the possibility of a subsequent change in the law having retroactive effect. This is something I would have thought implausible a decade ago, but not now.

Bill, if your religious persuasion is compatible, you should check out Samaritan Ministries International. It is a longstanding, highly successful insurance-like arrangement through which members share medical expenses. In my opinion, it is a much better, and more reliable, option than insurance at the present time.

I was with Christian Healthshare Ministries before Medicare kicked in, and if Samaritan works like them, routine meds are not covered, nor is anything under $500.00 per medical occurrence, and if someone has a chronic illness, treatment costs can become rather unwieldy before the ministry kicks in. I'm a firm believer in the Christian health sharing options, especially for younger folks in good health. But they have to be checked out carefully for those with chronic conditions.

So you talked to the agent for the company who cancelled you, who referred you to the government. Your "other recourse" is to do some research on other health insurance companies who operate in your area. Also there are other web sites who compare different plans, I stumbled over a couple of them when I was searching for individual coverage. Obviously it weighs on your conscience to go on Medicaid when you could afford your own coverage so keep digging.

I'm not a lawyer, nor am I qualified to advise you what to do, but, you should check it all out THIS MONTH, (October), since that is the usual enrollment period for most insurance and Medicare policies, without penalties or waiting until next October.....maybe even Medicaid. With all the new laws kicking in, it is probably best to consult a lawyer after getting all the information you can from the Affordable Care Act signup/web site first...

geo

Nevermind.

Lazy J said: "You have a million dollar investment portfolio and you want ME and the other taxpayers to pay for your health insurance?"

What I hear Bill saying is that he's not being given any choice. Under the ACA, if your income falls under a certain threshold, you are not eligible for any of the subsidies that make individual policies affordable. Instead, you are REQUIRED to be enrolled in Medicaid.

Only if you go through the ACA. You can still buy insurance without getting a subsidy.

With Samaritan, there is no annual deductible. You pay the first $300 of every condition for which you seek treatment. That $300 is waived if you can negotiate a cash discount with the provider--which nearly always is possible. Contrast that to most insurance policies which can involve astronomical deductibles (several of my friends are experiencing deductibles of $12,000 per couple per year). After that, medical expenses are normally paid at the rate of 100 percent. I say "normally" because if in a given month the submitted needs exceed the amount of the "share" collected from members, the amount paid will be prorated. I've seen this happen only a couple of times in the last several years, and in each case the amount paid has been no less than 80 percent. Compare that to your standard insurance policy, for which 80 percent is considered "cadillac" coverage. It is true that maintenance medications are not covered, and there are exclusions for pre-existing conditions. However, the coverage for serious illnesses and injuries is fantastic, particularly if you enroll in a supplemental program that extends coverage above the $250,000 limit. I don't know of any insurance policy that even comes close. Oh, and the cost of all this is about $180 a month for a single person.

The main difference between Samaritan and insurance is that there is no contractual right to payment. That doesn't concern me because I have far more confidence that several hundreds of thousands of people, all acting individually and according to a firmly-held belief, will abide by their commitment more than I do an insurance company who's leveraged up on derivatives and which could (and likely will) go belly up with no recourse to subscribers if the financial house of cards falls.

The requirements to qualify for medicaid vary from state to state. One of the wonders of Obamacare is that the asset test to receive medicaid is waived in states that signed up for expanded medicaid. The only qualifier is income. Is your state one that signed up for expanded medicaid?

States that signed up for expanded medicaid have no choice, if your income is less than 133% of the federal poverty level you are not eligible for subsidized, or unsubsidized, health insurance through the exchange. Your only option is medicaid.

I am not sure if the following is correct.
The state run exchanges are simply a way for you to compare prices and coverage from various insurance companies. It also enables you to supposedly sign up easily and it's the only option if you want to get subsidies.

Since you don't want any of the "benefits" of using the exchange you have the option of buying insurance directly from an insurance company. Just contact them and find out what they offer and for how much.

The option of buying directly through an insurance company may an illusory option because the unsubsidized prices of policies have skyrocketed based upon the redistributionist philosophy behind the ACA. In other words, if you're not being subsidized, you're subsidizing somebody else(s). This makes buying an unsubsidized policy cost prohibitive for most people--especially those who don't qualify for subsidies because they don't have sufficient income.

Medicaid is based on income and assets over $2000, excluding one personal home and vehicles (not sure how many you can have). Medicaid was always intended for poor people. For the last five or ten years, families with children could sign their children up for Medicaid. There was a charge for families depending upon income. I am pretty sure the maximum income for buying into Medicaid was around $70,000.

Medicare, on the other hand, is for older people who have a work history and their spouses. Medicare is also for disabled people who have a work history.

If you're poor and have a work history you can get both Medicare and Medicaid (same with adult disabled child). Medicaid acts like both Medigap policy and Part D policies. Medicaid even pays for Medicare policies.

My examples are in illinois and every state administers Medicaid differently. Still, Medicare is for people who have a work history and Medicaid is for the poor. Medicare does not consider income.

Obamacare has changed all this. In Illinois you must choose between a couple HMOs. Since the new rules state that providers must be located within a certain distance, plans available in Chicago aren't available in central or southern Illinois. Depending upon your plan, Central and Southern Illinoisans could end up with subspecialist who has only treated one or two cases like yours and be unable to see the guy who has sucessfully treated thousands of people dealing with your particular health issue.

It doesn't even matter if an out of state specialized subspecialist, who is more than willing to take Medicaid and has seen you for years. You will be stuck with somebody in your area who has the same board certification. (Example: too bad, so sad if you now see a nationally recognized pulmonologist who specializes in your congenital central hypoventilation syndrome. You may well end up with no other option than to see a local pulmonologist who knows little about your life threatening disorder.)

Each state administers Obamacare differently. In some states wealthy people are now eligible for Medicaid while in others people who live in near poverty can no longer afford the coverage they've had for years.

Gotta love our goberment.

It's inhumane.:hijacked: