Politics Millionaires are qualifying for Medicaid under Obamacare

Discussion in 'The Howard Stern Show' started by MutteringJohn, Sep 7, 2016.

  1. MutteringJohn

    MutteringJohn Well-Known Member

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    This is an interesting article. Congress could close this loophole but they do not. All that is required is an Asset Test question on the form. It asks you disclose all your savings, stock investments, trusts. I know someone who is in a nursing home right now. It's a shitty existence but nonetheless the government is paying his full freight. He is on dialysis, has complications from diabetes and has about $600,000 in savings and stock investments. He is 59 years old and was an independent contractor. He also had a 401K. Normally if your past 65 and have to go into a nursing home you have to pay unless you have exhausted your savings or somehow transferred it to another member of your family. This guy signed up for Obamacare the first year it was available. He was asked how much his projected income was for the following year and he said $15,000. That following year he earned about $125,000. Because they put him on Medicaid IRS form 1040 didn't ask about subsidies when he filed the return the year he earned $125,000. When Hillary is elected congress still won't do a damn thing even though it costing the government hundreds of millions of dollars.

    Millionaires living in states that expanded Medicaid are benefiting from government-sponsored health insurance, and taxpayers are footing the bill for it.

    In states that expanded Medicaid, people with high net worths and low monthly incomes qualify for Medicaid because of loosened eligibility requirements implemented under Obamacare. And in rural states like Iowa, Americans whom many would consider wealthy are taking advantage of this “loophole” and enrolling in coverage paid for by taxpayers.

    Jesse Patton, an insurance broker living in Iowa, has had clients with net worths ranging from $2 million to $5 million, which often stem from farmland or assets from divorce settlements. And those clients, he said, are enrolled in Medicaid in expansion states like Iowa.

    “It was designed to help the lower-income population,” Patton told the Daily Signal of Medicaid. “But without the asset test, there are folks that have the financial means and assets there that are good at figuring out how to work the system and capture a benefit they’re entitled to.”Sign Up

    Under the Affordable Care Act, states that opted to expand Medicaid did away with an asset test, which was previously used to determine eligibility in regular Medicaid. To qualify for the program, the government considered a combination of income and net worth.

    Now, under the law, eligibility in states that did and did not expand Medicaid is linked solely to modified adjusted gross income, keeping it in line with the tax code.

    “This was a move to standardize as much as possible, so you’re bringing in more people, but you’re not complicating the system to where you can’t figure it out,” Joy Wilson, director of health and human services policy at the National Conference of State Legislatures, told the Daily Signal.

    Though changing the requirements for Medicaid eligibility put the program in line with the tax code, it also created a “loophole” for those many would consider wealthy to enroll in the government-sponsored program.

    “When you get into the Midwest and states with an agriculture market, you can have several million [dollars] in farm ground that you’re not reporting with income,” Patton said.

    Patton said he’s encountered Iowans whose net worths top $1 million, and they’ve had no problem enrolling in Medicaid because their annual incomes are below 138 percent of the federal poverty line, or $16,000 for an individual—the new income threshold to qualify for Medicaid in states that expanded the program.

    The Iowa broker specifically recalled the case of one woman who had $1.5 million in land and received another $500,000 from a divorce settlement. The land and cash settlements, which went into a trust, were not reported as income, so the woman was able to enroll in the government-run health care program.

    “In our market, we’ve got quite a few people who are either farmers or have gone through divorce settlements where they received considerable amounts of money, but it’s not showing up as income to them at this point in time,” Patton said.

    Wilson said that though it’s likely there are some worth millions who are enrolling in Medicaid, they represent a small share of the overall Medicaid population.

    “With every system there are issues, and there are always some people trying to help someone who might have a workaround,” she said. “But I would hope that’s not a large number of people, and I suspect if it became big enough, they would have to go and amend the law.”

    “It’s safe to say the bulk of the individuals who qualify by income don’t have a lot of assets,” Wilson continued. “There’s always an exception to the rule, maybe someone’s parents died and they got a $1 million house. But that’s not your typical person coming in at the poverty level.”

    But those who are asset-rich, like enrollees who own large amounts of land, are not the only population who can qualify for Medicaid under Obamacare.

    Ed Haislmaier, a senior fellow in health policy studies at The Heritage Foundation, said that graduate students may find themselves eligible for the program, as many likely qualify for Medicaid based solely on their incomes.

    Such was the case for Hartford, Conn., student Brendan Mahoney, who signed up for health care through Connecticut’s exchange when it opened in 2013 and learned he was eligible for Medicaid. Mahoney, a third-year law student at the University of Connecticut, had a school-sponsored health plan prior to Obamacare’s implementation but found he could enroll in Medicaid instead.

    “It’s distorting the program away from those whom it was designed to help who are most vulnerable and don’t have other options,” Haislmaier said. “Unlike the farmer or divorcée who could cover it out of dipping into their substantial assets, or the graduate student who could cover it through student loans or a part-time job, the poor kid or the disabled adult, don’t have those options. They’re the ones whom Medicaid was set up for.”

    The Obama administration expanded Medicaid under the Affordable Care Act with the intention of expanding coverage for low-income Americans. Under the law—and in the 31 states and the District of Columbia that expanded Medicaid—adults who earn below 138 percent of the federal poverty line, or around $16,000, can enroll in the program.

    The federal government will cover all the costs of Medicaid expansion until the end of this year. Participating states are required by cover 10 percent of the costs by 2022.

    Haislmaier warned that wealthy Americans who can dip into their assets to pay for health insurance are taking advantage of a program designed for people who don’t share the same lifestyle.
    “It has introduced new inequities into the system,” he said.

    Questions regarding the population of Americans benefiting from aspects of the Affordable Care Act were raised after CNBC published a report last month detailing how millionaires are able to qualify for subsidies when purchasing coverage on the state-run and federal exchange.

    Just like eligibility for enrolling in Medicaid in expansion states, eligibility for the health care law’s subsidies is based solely on income, not a combination of net worth and income.

    As a result, the news organization found that a Florida-based financial adviser was helping clients whose net worths were in the millions enroll in coverage through Obamacare and qualified for subsidies.

    In one case, one client in Florida received a monthly subsidy of $423, which lowered the price of the client’s coverage to $240 per month. Another client received a monthly subsidy of $737, lowering the premium to $435 per month.
     
  2. Vincenzo69

    Vincenzo69 Well-Known Member

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    And 30 million more Americans are insured under Obamacare than before
     
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  3. DrSublux

    DrSublux Who am dis VIP

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  4. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    Unfortunately, congress cannot move to improve the law, because Conservacunts would dismantle the law if given any chance.
     
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  5. MutteringJohn

    MutteringJohn Well-Known Member

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    That doesn't mean that a loophole should exist. Asking one to disclose their assets when asking for aid is more than fair.
     
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  6. Walygatr

    Walygatr Well-Known Member

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    If public schools have to accept learning deficient kids then, using the same logic, doesn't Medicare have to accept millionaires?
     
  7. Vincenzo69

    Vincenzo69 Well-Known Member

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    Private healthcare is the biggest scam ever.


    We should have 100% socialized medicine in this country like the entire rest of the Western world.
     
  8. burunduk34

    burunduk34 Well-Known Member

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    I see no problem here--these people worked hard all their lives, obviously were successful, and deserve all the benefits government provides (after all, the benefits are paid out of all the taxes these hard-working people were forced to give to the government as taxes, so they're just getting their own money back).
    It's the poor people who should be carefully screened (and mostly denied) government benefits, to give them incentive to work harder (of course, a significant percentage of "poor" people are just lazy harambes, and they deserve to get no benefits)
     
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  9. Walygatr

    Walygatr Well-Known Member

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    At this point I agree. Got to do something about the borders then IMO.
     
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  10. burunduk34

    burunduk34 Well-Known Member

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    No, thank you. You pay for your medical expenses, and I pay for mine. I'm still pissed off you mooched off that "free surgery" that was paid by my taxes, and then bitched and moaned when you had to pay your own medical expenses.
     
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  11. MutteringJohn

    MutteringJohn Well-Known Member

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    You are aware that once you turn 65 you have to pay for long term care. You are okay with wealthy people getting subsidies for their health insurance while someone who has a middle income job being forced to pay $900 a month for same policy.
     
  12. burunduk34

    burunduk34 Well-Known Member

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    Absolutely, I'm ok with that. Those people paid significantly more into the system, they should be getting more out of it. That's basic fairness.
     
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  13. Walygatr

    Walygatr Well-Known Member

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    Lazy people don't want work. If I hire somebody who had to be dragged in kicking and screaming then I deserve the claim I know I'm going to have filed against my workers comp ins with the old "ooh my back" syndrome.
     
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  14. Vincenzo69

    Vincenzo69 Well-Known Member

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    If we had 100% socialized medicine I would absolutely support the wall and deporting 10 million illegals


    But unfortunately none of that will ever happen
     
  15. 1Vegasgirl

    1Vegasgirl Well-Known Member VIP Gold

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    Do you mean medicare or medicaid?
     
  16. Vincenzo69

    Vincenzo69 Well-Known Member

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    $50 for a tissue box at a private hospital sounds entirely reasonable


    Sorry your tax dollars went to a combat veteran getting surgery instead of a tax deduction to Trump for 2 seconds
     
  17. Vincenzo69

    Vincenzo69 Well-Known Member

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    I pay $400 for mine and I have a $125 copay for getting a flu shot


    Unbelievable. How Americans can be manipulated into thinking private medicine is actually good
     
  18. burunduk34

    burunduk34 Well-Known Member

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    That's your problem, not mine.

    I'm a combat veteran, yet I'm not mooching off other people.
     
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  19. MutteringJohn

    MutteringJohn Well-Known Member

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    It's tricky. The guy is getting medicare because he is on dialysis but they won't pay for his rehab so now he is trying to get medicaid. I told him once you get medicaid they might ask for an Asset Test. All he gets now is free healthcare in the nursing home which includes a semi-private room including a cable package with several premium movie channels and free food.
     
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  20. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    This guy is a fucking retarded douchebag.
     
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