Medicaid provides health coverage for millions of Americans. Eligibility for Medicaid is based on financial assets and income. Income eligibility is based on many factors. These include your taxable income, Social Security benefits, and interest earnings.
You must always report any change in income or financial assets to the state Medicaid office. You will be asked to provide certain documents to determine if your eligibility has changed. If your financial situation improves, you could lose your Medicaid benefits. You would also no longer meet the requirements to enroll in a Dual Eligible Special Needs health plan.
When that happens, you may still be able to qualify for coverage through a private health insurance company. For instance, a Medicare Advantage plan may be a good option.
If you become eligible for Medicaid again at a later date, you will have to re-apply for benefits.
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