Losing Medicaid or CHIP Coverage? Understand Your Alternatives
As a result of the global pandemic, your state may have extended your Medicaid coverage or Children’s Health Insurance Program (CHIP) coverage, even if certain factors changed that would normally make you ineligible.
Now, many states are in the process of returning to normal eligibility operations. Medicaid and CHIP will now recheck your eligibility for both programs. If they determine your household income is too high or they find other factors that deem you ineligible, you may lose coverage. However, you have other health insurance options to ensure you and your family are covered!
Individual Health Coverage Options
M3 Elevate’s Natalie Damro can assist you with navigating the complexities of the individual health insurance Marketplace and help you determine which options fit your individual needs.
Between March 31, 2023 – July 31, 2024, you and your family can apply for a marketplace plan if your Medicaid or CHIP coverage ends. After you submit your application, you will have 60 days to enroll in a plan. The health plan will start at the beginning of the next month once you complete the enrollment process.
Healthcare.gov provides some brief reminders when it comes to enrolling in the Marketplace:
- Most people qualify for savings on a health plan to lower their monthly premium.
- 4/5 customers can find health coverage for $10 or less per month.
- All Marketplace plans cover doctor’s visits, prescription drugs, emergency care, mental health, hospitalizations and more.
- You can apply and enroll in a Marketplace plan as early as 60 days prior to your Medicaid or CHIP coverage ending to avoid the gap in coverage.
Medicaid, CHIP, and Medicare Eligibility
As a reminder, you can re-apply through your state to determine if you still qualify for Medicaid or CHIP before you enroll in a Marketplace plan. If you are 65 or older and didn’t enroll in Medicare when you first became eligible, you may be able to sign up without receiving a late penalty. Learn more by connecting with a member of M3 Elevate’s Medicare team.
If you received notice that your Medicaid coverage or Children’s Health Insurance Program (CHIP) coverage is coming to an end, now is the time to explore your alternatives. To avoid gaps in coverage, individuals can apply and enroll in a Marketplace plan 60 days prior to Medicaid or CHIP coverage ending.
M3 Elevate is a team of consultative experts who can help you and your family navigate the complexities of the Individual Health Insurance Marketplace to determine the appropriate coverage options based on your individual needs.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options.