The rising costs of health care in the United States make it difficult for many Americans to get medical treatment. In fact, a recent study of older unemployed workers by the National Bureau of Economic Research found that Americans in their fifties who lose their jobs and their health insurance during an economic recession cut three years off of their life expectancy compared to those who retain their jobs and their health insurance.

What is Medicaid?

Medicaid is a health care program established by the federal government and implemented by each state providing medical care coverage to many who cannot otherwise afford it. The importance of Medicaid as a health-care safety net cannot be understated. About 56 million Americans currently receive health care benefits from Medicaid, making it the largest health care plan in the country.

Are You Eligible for Medicaid?

How can you know if you are eligible for Medicaid? In general, your eligibility for Medicaid depends on a number of factors, including:

  • Your income
  • Your assets
  • The amount of your medical bills

Special circumstances may also increase your Medicaid eligibility. Pregnant women, children, and those who are disabled, blind, or older than 65 may be eligible for coverage even though their income is higher than the standard.

The New York Department of Health provides a chart based on income and assets to help make a first evaluation about whether you are eligible for Medicaid benefits. Each case is unique, however, and expert legal assistance to help you with planning — including the proper structuring of your income and assets — can maximize your opportunity to qualify.

If you have questions about your eligibility for Medicaid, contact us to get a comprehensive review of your situation from an experienced Medicaid planning attorney.

Anthony Lamberti on G+