The first day of 2014 marked the official first day of expanded insurance coverage under the Affordable Care Act. This is a big deal. As Wonkblog notes
, yesterday ushered in “the most significant change to our health-care system” in nearly fifty years.
Though much of the discussion around the ACA rollout has focused on how many Americans have signed up for private plans, a lesser known impact of the new law is that millions of Americans are now eligible for Medicaid. The Washington Post offered a nice assessment
of these changes earlier this week. One small, but critical, aspect of the Medicaid expansion is the elimination of the Medicaid asset limit
. This provision will allow millions of low-income families to both get the health coverage they need and maintain or build a modest savings cushion. The Medicaid expansion has been rejected by half of the states but the elimination of the asset test applies to all states
, not only those that have adopted the expansion. States will still have discretion
to impose limits on elderly and disabled beneficiaries, but the majority of Medicaid enrollees will now be able to save freely.