Some people with substantial assets could be benefiting from
health care on the public's dime. But the state Department of Health
and Human Services is hoping to put a stop to that.
Beginning May 1, low-income families who are Medicaid recipients
would be required to report their assets in addition to their
income. Under current rules, a family could qualify for Medicaid
because of low income and yet have tens of thousands of dollars in
the bank.
The new plan, however, will require Medicaid recipients to report
stocks and bonds, checking and savings accounts and vehicles. If
assets exceed $20,000, the family would no longer qualify for
Medicaid.
That $20,000 limit actually is quite generous, given that the new
rules would not even count the first $20,000 in equity on the first
vehicle against an applicant. The new plan also would not take into
account a person's primary home and the land, qualified retirement
plans and some life insurance policies.
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About 400,000 Medicaid recipients would have to report financial
resources. It's unknown how many of that number may be shielding
substantial assets, but it's important that the state agency work to
identify those recipients.
Those who actually have the wherewithal to pay for their own
health care are gaming the system and robbing it of limited public
health-care dollars that should be devoted to vulnerable South
Carolinians. |