NEWPORT BEACH, Calif. - TelAve -- Under COVID-related guidelines, five million Americans have been relying on Medicaid as their primary form of insurance. Starting April 1,2023, emergency health insurance protections that were put into place during the COVID pandemic will end. Roughly 15 million people – that is 1 in 6 Americans – will lose Medicaid coverage. In order to remain insured, they must fill out an application, stating their address, income and household size but they may make too much money to be eligible.

The pandemic guidelines that allowed people making more money than original Medicaid eligibility guidelines will slowly unwind in every state, also affecting those who moved out of state or had health insurance access through an employer.

If you're one of these people, we have some tips on finding an insurer that matches your needs and budget. You may be eligible for Obamacare plans, even if your salary is higher than Medicaid maximums. If you don't qualify for a subsidized plan in the marketplace, there are affordable private plans to choose from.

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Not all private health insurance plans are exorbitantly priced. However, we recommend that you compare health insurance quotes before you buy. And before you compare quotes, you must understand your coverages.

Key Takeaways

• 15 million people, including children, will soon lose Medicaid coverage and need to buy health insurance.
• The cheapest plan may end up costing you more if you have a pre-existing condition or see specialists regularly.
• There is a cap to how much you spend on health insurance in a year (a deductible) if you buy a health insurance plan.
• The cheapest health insurance policies (bronze) have a high deductible and are designed for young, healthy individuals who rarely need medical care.

From April - October, states will be unwinding Medicaid. Affected states in April are: Arizona, Idaho, New Hampshire and South Dakota.

For the full article and list of states affected in May, June, July and October, please visit:
https://smartfinancial.com/lost-medicaid-coverage