Health Care Coverage: Medicaid

Background

MedicaidA joint federal/state program that provides health care and LTSS. However, to qualify for Medicaid LTSS, people must have extremely low assets and income, or they have to “spend down” most of their assets. is the nation’s largest publicly financed health insurance program for people with low incomes. It is a means-tested program funded jointly by the federal government and states. But it is managed by the states. The federal share of MedicaidA joint federal/state program that provides health care and LTSS. However, to qualify for Medicaid LTSS, people must have extremely low assets and income, or they have to “spend down” most of their assets. financing is determined by the Federal Medical Assistance Percentage ( FMAPThe percentage of a state’s Medicaid costs that will be paid by the federal government. It is determined by a formula designed to ensure that no state receives an FMAP lower than 50 percent. ) formula. The FMAPThe percentage of a state’s Medicaid costs that will be paid by the federal government. It is determined by a formula designed to ensure that no state receives an FMAP lower than 50 percent. —which is set by federal statute— is derived by comparing a state’s per capita personal income relative to the U.S. per capita personal income. The formula, which has not been updated since 1965, is designed so that no state receives an FMAPThe percentage of a state’s Medicaid costs that will be paid by the federal government. It is determined by a formula designed to ensure that no state receives an FMAP lower than 50 percent. of less than 50 percent.

Found in Health Care Coverage: Medicaid