The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Sunday, September 22, 2013

Connect The Dots USA: Combating Misinformation and "Not Knowing"

Re-post from Connect The Dots USA

Connect The Dots USA
The ACA was designed to cover roughly 16 million of the uninsured with the expansion of Medicaid by increasing the eligibility income to 138% of federal poverty level (FPL). That includes individuals with incomes currently up to about $15,800 and families of four with incomes up to about $32,500. 

To avoid placing undue burden on struggling states, the expanded portion of Medicaid will be 100% financed by the federal government for the first three years (2014 to 2016), phasing down to 90% by 2020. So the more Scrooge-like your state was in regards to Medicaid eligibility when the ACA passed in March 2010, the more money your state stands to get from the federal government to insure all the new eligibles under the Medicaid expansion. In other words, under this deal, the meanest states reap the most rewards.

Low and middle-income folks with incomes higher than 138% of FPL — for example individuals with incomes up to about $46,000 and families of of four up to about $94,200 — who cannot get qualified insurance through their employer or who are not eligible for a government program like Medicare, VA or Tricare, will have access to a sliding scale of tax subsidies to help purchase private policies on the new health insurance exchanges.

We’ll take a closer look at those tax credits in a post coming up shortly.

Mark your calendars: Open enrollment starts Oct 1st, 2013 (that’s in about 1 week!), with coverage starting as soon as Jan 1st, 2014 if you get enrolled and make your first payment by Dec. 15th, 2013.

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