For seniors over age 65, the most common health insurance solution is Medicare. However, if you are in your 60s but have not yet reached retirement age, you may have another option. Medicaid is available to Americans of any age, as long as they do not exceed the maximum income standards. For those unfamiliar with Medicaid, below is a brief introduction to the subject.

What Is Medicaid?

Medicaid is a joint federal and state health insurance program designed to help people of limited means to gain access to affordable health care. States usually run several programs directed at different populations. For instance, some programs address those in need of nursing home care and cover the cost of care, meals, and lodging. Others provide assisted living services. The difference is that nursing homes are primary care facilities that also offer accommodation, while assisted living communities are primarily residential facilities that also provide limited care. Medicaid also covers in-home care, such as housekeeping, meal preparation, and in rare cases, hospice care.

How Do You Qualify?

To be eligible for free or low-cost Medicaid health insurance in Texas, you must meet certain income limits. For instance, as of 2019, singles must earn less than $771 per month to qualify for regular Medicaid and have assets of no more than $2,000. For married people, the limits are $1,157 per month and $3,000 in assets. To qualify, you must consider all sources of income, and cash, stocks, bonds, savings and checking account balances, and real estate—in which you do not reside—are all countable assets. Note that many applicants do not qualify the first time around and need advice on how to "spend down" their assets to meet eligibility requirements.

For help getting covered by Medicaid health insurance, contact Christina Mendoza & Associates LLC Insurance and Financial Services, an experienced insurance broker in San Antonio, TX. They have been serving seniors in and around Bexar County for more than 10 years. For added value to older clients, they also specialize in financial services, retirement planning, and life insurance. Visit their website to learn more about their services or call (210) 389-5289 to request a quote.