Medicaid is a health insurance program for low-income people. With Medicaid, some people pay very little, and some don’t have to pay anything for certain medical expenses. This type of health insurance is great for children, pregnant women, and people with disabilities.
Let’s look at three Medicaid benefits.
Gives People Improved Access to Healthcare
According to research, the number of people in Arkansas and Kentucky who receive a checkup in one year has increased by 24%. Similarly, 29% of the people say they regularly visit their doctor, and 42% say they have excellent health.
The numbers also suggest that the people of Arkansas and Kentucky are more financially secure, and their medical bills have dropped by 25%.
Other substantial Medicaid benefits include a decline in teenage mortality by 13-20% in youngsters of color.
Efficient at Reducing Medical Costs
Moreover, with Medicaid, beneficiaries incur fewer out-of-pocket costs. Furthermore, the cost-per-beneficiary for Medicaid grew much more slowly compared to private insurance plans.
According to the Urban Institute and the CHIP Payment and Access Commission, the costs will continue to grow even more slowly than private insurance.
Medicaid is Flexible
Another benefit is that Medicaid is a federal-state partnership. The federal government pays a share of each state’s cost, and in return, the states follow federal rules on eligibility standards, provider payments, beneficiary protections, and delivery or benefits.
There are a few things a state must do, such as making all underprivileged children eligible. However, the state can decide the degree to which they should offer benefits, especially regarding prescription drugs, physical therapy, and dental/vision care.
With Medicaid, states can also design their own healthcare delivery systems. They can make payments to organizations offering medical care services to their beneficiaries.
They can establish accountable care organizations that coordinate care for beneficiary groups in exchange for a monthly payment.
These are just a few of the many Medicaid benefits. At the Advanced Dental Center, we closely monitor all health insurance programs in the country to help our patients access the best medical treatments at affordable rates.