Medicaid is one of the most widely used and known health insurance programs in the U.S., covering millions of low-income individuals and families. But that doesn’t mean Medicaid is the only way for people to get affordable health insurance. If you are looking for health insurance like Medicaid it is important to know what alternatives exist, how they compare to Medicaid, and how to get it.
In this article, we will explore the various ‘health insurance like Medicaid’ types, differences and similarities, eligibility criteria, and where to find the best one for you.
Health Insurance Like Medicaid
Medicaid is an acronym for programs and plans that provide the same or similar benefits as Medicaid but with differences in administration, coverage details, or eligibility requirements. These plans are meant to supply full, low-cost health care to people who may not be able to buy conventional private insurance, or who can’t get Medicaid for reasons including earnings, age, or place of living.
While Medicaid itself is a state-run program that provides medical assistance to low-income individuals and families, several other insurance options mirror its core purpose: making sure that vulnerable populations have access to the necessary healthcare services they need.
Alternative health insurance programs are created for those who require financial aid to cover medical costs. They, like Medicaid, generally have low premiums, low out-of-pocket costs, and a broad spectrum of health services — hospital visits, doctor’s visits, prescriptions, and so on.
Common Types of Health Insurance Like Medicaid
Several alternatives to so-called Medicaid insurance are available that have the same benefits. Below are some of the most common options to consider if you’re looking for “health insurance like Medicaid”:
1. Children’s Health Insurance Program (CHIP)
The Children’s Health Insurance Program, or CHIP, is a government-sponsored program that offers, states cover low-cost or free health insurance for the children of families who earn too much to qualify for Medicaid but can’t afford private health insurance. CHIP provides all the health coverage we mention here, including routine check-ups, vaccinations, emergency services, dental care, and mental health services.
CHIP, in reality, is meant for children, but also pregnant women in some states are covered by CHIP. Eligibility for this program is generally based on household size and income and the benefits offered are much of the same as those of Medicaid.
If you’re seeking health insurance like Medicaid for your children or pregnant women in your family, CHIP is an option worth investigating.
2. Affordable Care Act (ACA) Marketplace Plans.
The Affordable Care Act (aka Obamacare) created a health insurance marketplace that offers government-subsidized health insurance plans to individuals and families who earn too much to qualify for Medicaid but can’t afford to go unassisted. ACA marketplace plans are not “technically” Medicaid, but they do have many of the same affordability and coverage of essential health benefits.
Marketplace plans vary the amount of coverage and the premium you pay depending on the type of plan – bronze, silver, gold, or platinum. You may qualify for subsidies that reduce your monthly premiums or out-of-pocket costs, depending on your income.
ACA marketplace plans are a key alternative for many people and families who are just above Medicaid eligibility. These plans have broad coverage and are a means for people to get affordable insurance who otherwise wouldn’t qualify for Medicaid.
3. Medicare Savings Programs (MSP)
Medicare generally is limited to those 65 and over, but Medicare Savings Programs (MSPs) exist to help low-income seniors pay for their healthcare. Expenses such as premiums, deductibles, and copayments are discounted for some people with low income who need assistance through MSPs.
While MSPs are not Medically Speaking, any MSP does offer a benefit to those on Medicare that has a similar effect: it reduces the financial burden of medical expenses on its users. If an individual is eligible for both Medicaid and Medicare, his or her health care — including costs not always covered by Medicare — may even be paid in full.
4. They obey State specific programs and Plans
There are other programs, called ‘Above Medicaid’ programs, that are similar to Medicaid in many ways (in terms of cost and coverage) but are available to those who don’t qualify for standard Medicaid. State-specific programs usually offer low-cost insurance for particular groups, including working adults, seniors, and people with disabilities.
For instance, some states have programs that they call ‘Medicaid expansion’ which provides coverage to adults who earn more than the federal poverty line, but less than some threshold. Often, these programs work with Medicaid but may have different rules, or both ways of organizing funding.
To see what these options might be I would suggest you go to your state’s Medicaid website or talk to a local insurance broker who will help you find health coverage.
How Does Health Insurance Like Medicaid Compare?
Several alternatives to so-called Medicaid insurance are available that have the same benefits. Below are some of the most common options to consider if you’re looking for health insurance like Medicaid:
1. Children’s Health Insurance Program (CHIP)
The Children’s Health Insurance Program, or CHIP, is a government-sponsored program that offers, states that cover low-cost or free health insurance for the children of families who earn too much to qualify for Medicaid but can’t afford private health insurance. CHIP provides all the health coverage we mention here, including routine check-ups, vaccinations, emergency services, dental care, and mental health services.
CHIP, in reality, is meant for children, but also pregnant women in some states are covered by CHIP. Eligibility for this program is generally based on household size and income and the benefits offered are much of the same as those of Medicaid.
If you’re seeking health insurance ‘like Medicaid’ for your children or pregnant women in your family, CHIP is an option worth investigating.
2. Affordable Care Act (ACA) Marketplace Plans.
The Affordable Care Act (aka Obamacare) created a health insurance marketplace that offers government-subsidized health insurance plans to individuals and families who earn too much to qualify for Medicaid but can’t afford to go unassisted. ACA marketplace plans are not “technically” Medicaid, but they do have many of the same affordability and coverage of essential health benefits.
Marketplace plans vary the amount of coverage and the premium you pay depending on the type of plan – bronze, silver, gold, or platinum. You may qualify for subsidies that reduce your monthly premiums or out-of-pocket costs, depending on your income.
ACA marketplace plans are a key alternative for many people and families who are just above Medicaid eligibility. These plans have broad coverage and are a means for people to get affordable insurance who otherwise wouldn’t qualify for Medicaid.
3. Medicare Savings Programs (MSP)
Medicare generally is limited to those 65 and over, but Medicare Savings Programs (MSPs) exist to help low-income seniors pay for their healthcare. Expenses such as premiums, deductibles, and copayments are discounted for some people with low income who need assistance through MSPs.
While MSPs are not Medically Speaking, any MSP does offer a benefit to those on Medicare that has a similar effect: it reduces the financial burden of medical expenses on its users. If an individual is eligible for both Medicaid and Medicare, his or her health care — including costs not always covered by Medicare — may even be paid in full.
4. They obey State specific programs and Plans
There are other programs, called Above Medicaid programs, that are similar to Medicaid in many ways (in terms of cost and coverage) but are available to those who don’t qualify for standard Medicaid. State-specific programs usually offer low-cost insurance for particular groups, including working adults, seniors, and people with disabilities.
For instance, some states have programs that they call ‘Medicaid expansion’ which provides coverage to adults who earn more than the federal poverty line, but less than some threshold. Often, these programs work with Medicaid but may have different rules, or both ways of organizing funding.
To see what these options might be I would suggest you go to your state’s Medicaid website or talk to a local insurance broker who will help you find health coverage.
How to Find Health Insurance Like Medicaid
If you are searching for health insurance like Medicaid, there are several resources you can use to find the right plan:
1. ACA (Health Insurance Marketplace)
Explore ACA plans in your state by visiting the Health Insurance Marketplace website (HealthCare.gov). You can also find out if you’re eligible for subsidies to make those premiums and out-of-pocket expenses less expensive. You can open enrollment for ACA plans each year, however, you may have a special enrollment period if you experience a life change, such as marriage, childbirth, or job loss.
2. The State Medicaid or CHIP Website
Go to your state’s Medicaid or CHIP website and explore Medicaid or CHIP options. The Affordable Care Act has expanded Medicaid in many states, so it’s worth it to see if you qualify for coverage. Your state’s Medicaid office can tell you whether you qualify, and what other health coverage programs you might be able to get.
3. Insurance Brokers
An insurance broker will help you find health insurance like Medicaid by comparing plans from various providers and can walk you through the application process. They also can assist you in finding out if you qualify for Medicaid, CHIP, ACA plans, or other state-specific insurance programs.
Conclusion
If you need health insurance like Medicaid, there are a number of ways to make sure you’re getting the coverage you need without breaking the bank. There are government-backed programs ranging from CHIP for kids to ACA marketplace plans and Medicare Savings Programs for seniors to help individuals and families in need.
The right program for you depends on your income, family size, and specific healthcare needs. By looking at your options and understanding the details of each program, you should be able to locate the most suitable health coverage for you and your family and be certain you and your family receive the care you need.