Financial News
Millions Lose Medicaid Coverage in 2023
By:
NewsUSA
February 08, 2024 at 19:00 PM EST
(Matthew Du, NewsUSA Reporter)
- Medicaid is a government-subsidized medical insurance program for eligible Americans of limited income and disabilities. As of September 2023, over 81.4 million are under the program.
During the pandemic, eligibility checks were halted as Medicaid beneficiaries had "pandemic protection," which lasted until April 2023. Since then, there has been a reevaluation or "unwinding" of enrollees by the state government. As of December 2023, over 13 million individuals lost Medicaid coverage, and enrollment decreased by 7.8 million.
Those no longer entitled to Medicaid need to find insurance based on the Affordable Care Act (ACA). The law subsidizes part of insurance costs based on household income.
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