While you are not quite ready to apply for Medicaid, you want to learn about the program to create a budget for your golden years in Wisconsin. What out-of-pocket costs should you expect with the state and federal program?
Medicaid.gov gives a rundown on out-of-pocket Medicaid charges to expect. Use the information to craft your elder care plan.
States have the right to charge Medicaid users deductibles, copayments, coinsurance and other similar charges for outpatient and inpatient medical services. Examples of such services include physician visits, rehab care, physical therapy and medication. The amount of such charges depends on your income. States may also set up alternative out-of-pocket costs for Medicaid users whose income exceeds the federal poverty level. Depending on the medical service, such alternative costs may exceed nominal charges. Special costs may have a cap that does not surpass 5% of family income. If you do not pay alternative copayments owed, Medicaid may deny you medical service.
Do not worry about extra costs for emergency services. Usually, extra costs do not apply to Medicaid enrollees exempted by law, such as those living in an institution, children and terminally ill patients. Even if you do not fall into that category, most out-of-pocket cost amounts remain minor. If you do not cover out-of-pocket costs, you may still receive covered medical care, but you could find yourself held liable for outstanding copayments.
Learn more about how Medicaid works to prepare yourself to use the program. Being proactive helps you avoid nasty financial surprises while tending to your health.