Qualifying for Financial Assistance on Prescription Mediction

Medical care these days is expensive enough, but when paying for prescriptions is thrown into the mix, things can get to be even more financially burdensome. Fortunately, for those who are either uninsured or underinsured and can't afford to pay for their prescriptions, there's always the option of applying for Medicaid.

Medicaid is a Federally-funded source that helps those with low incomes and no insurance get the medical care (and subsequent financial assistance to pay for the care) they need. For those wondering if they might qualify for Medicaid, there are a few considerations to keep in mind.

Different States, Different Requirements

First of all, those applying for Medicaid should understand that each state has the ability to set its own requirements and laws regarding Medicaid eligibility. Therefore, it's recommended that those considering the option to apply research their state requirements beforehand. 

Even upon determining that those requirements have been met, it will still be necessary for those with Medicaid to find pharmacies and medical centers in the area that accept Medicaid, as not all do. Specifically, shopping around for a financial assistance pharmacy Michigan is recommended.

Living Below the Poverty Level

The main criteria that's generally used to determine whether or not a person (or a family, as the case may be) is eligible for Medicaid is one's income and whether or not that income falls under the nationally recognized poverty level; the current poverty level for a single-person household is listed as $11,670. For a family of four, the poverty line is $23,850.

Retroactive Acceptance and Payments

Finally, those looking to apply for Medicaid should also be aware that, if accepted, they may be entitled to receive as much as three months of retroactive payment for any medical expenses incurred while waiting for the Medicaid application to be processed. This can cover hospital and doctor's office visits, prescription medications that were paid for out-of-pocket, and a number of other related costs. 

In order to receive retroactive compensation, however, additional paperwork may be needed and documentation of medical costs paid will need to be provided. 

Qualifying for Medicaid can be an excellent way to receive the financial assistance needed to pay for medical expenses and prescription medications. Those who live below the poverty line and are having trouble with paying for these costs should consider submitting an application in the near future.