Friday, November 2, 2012
Katie Beckett Medicaid Cost Sharing Program
I didn't know that it was optional for the longest time. I was paying for it out of our flex account through my husband's insurance through his work and then about the fourth "Bill" for installment, it said at the bottom "call this number to opt out". Of course I called the number and then realized that it is a VOLUNTARY program. So of course I opted out once I knew I could do so with no repercussions!
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The actual language in the The Idaho Health Plan Coverage booklet states:
ReplyDeleteIf your child qualifies for the Home Care for Certain Disabled Children Program (Katie Beckett). If you’re child qualifies for this program, Medicaid will send you a letter with a suggested, voluntary premium amount that is based on your income. If you’re unable to pay the premium amount, your child’s Medicaid
eligibility won’t be affected.
Copied from page 5 of http://healthandwelfare.idaho.gov/Portals/0/Medical/MedicaidCHIP/Idaho%20Health%20Plan%20English.pdf
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ReplyDeleteYou mentioned FSAs. This got me thinking about Idaho Medical Savings Accounts which can be set up at many Idaho financial institutions, i.e. banks or credit unions. It is something to definitely look into, if you haven't already.
ReplyDeleteThe first paragraph of the the Idaho Tax Publication at http://tax.idaho.gov/pubs/EBR00240_03-16-2011.pdf states:
AN IDAHO INCOME TAX DEDUCTION
An Idaho Medical Savings Account (MSA) allows you to save for medical expenses and nursing home costs while reducing the amount of Idaho income tax that you owe. Contributions to a federal MSA or health savings account (HSA) don’t qualify for this Idaho deduction. The information in this publication is limited to Idaho MSAs, as the tax consequences of federal MSAs and HSAs may be different.
Continue reading the entire 2-page tax document from the link above as it contains a short description and FAQs about Idaho Medical Savings Accounts. It's easy reading.
Those who do their own Idaho taxes have probably noticed questions about Idaho MSAs being asked. Have you noticed this before?
I assume those who pay someone do to their taxes may have been asked about this as well.
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