Medicaid Waivers and other Out of the Box ideas for your clients
April 22, 2024
In this episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff delve into the complexities of Medicaid waivers, vital programs that provide medical and financial assistance to individuals who don't meet traditional Medicaid requirements due to their income but who face severe medical challenges such as disabilities and chronic conditions. They illuminate community-based care options, highlight the significant cost of prescription medications, and discuss various patient assistance programs, including a database developed by pharmacist Norma Johnson. The hosts also touch upon strategies for veterans dealing with trauma and the importance of utilizing resources like benefitscheckup.org to aid aging clients. The focus of the episode is on the tangible ways insurance professionals can support their clients, from navigating the Katie Beckett waiver for disabled children to understanding the nuances of programs like PACE and VA aid and attendance benefits, to other programs most agents never think of.
🎙️ Deep Dive into Medicaid Waivers, Prescription Assistance, and other ways to help your clients save money🎙️
🔑 3 Key Takeaways:
- 🏡 Community-Based Support: Medicaid waivers enable community-based care, preventing institutionalization and fostering at-home independence for those with severe disabilities or in need of 24-hour care.
- 💉 Access to Medications: Patient assistance programs are a lifeline for high-cost medications like Farxiga and SKYRIZI, often accessible to individuals with higher incomes than you might expect.
- 🤝 Help Beyond Healthcare: The episode discusses PACE and the Katie Beckett waiver, showcasing how industry professionals can guide their clients through complex benefit landscapes.
Tune in for an enlightening discussion that could revolutionize the way you support your clients.
🎙️ Get empowered with knowledge to serve your clients better, every step of the way!
Questions to think about while listening to today's episode:
1. How can Medicaid waivers transform the care experience for individuals with severe disabilities, and what impact does this have on their quality of life?
2. What are the key differences between institutional care and community-based care under Medicaid waivers, and why might a family choose one over the other?
3. With some states offering Medicaid waivers with no income limits, how can this affect the perception of Medicaid as a program solely for low-income individuals?
4. What are the challenges and benefits of family caregiver programs that allow family members to be compensated for providing care?
5. How does the classification of 'homebound' affect the ability for veterans with PTSD and other trauma to receive support, and what resources are available to them?
6. In what ways do patient assistance programs bridge the gap for individuals struggling with the high costs of prescription medications, and what role does eligibility play?
7. Considering the complexity of patient assistance programs, how important is it for clients to work with professionals or to use resources like NeedyMeds.com?
8. Discuss the ethical considerations of companies like NiceRx charging a monthly fee for services that might be provided for free by others. How should clients be informed about these options?
9. With the use of compounding pharmacies and Canadian pharmacies as alternatives to traditional pharmacies, what pros and cons should clients be aware of?
10. How can professionals in the insurance and healthcare fields help clients navigate and maximize the benefits of programs like PACE and specialized Medicaid waivers, and why is this knowledge crucial during the Annual Enrollment Period?
🔑 3 Key Takeaways:
- 🏡 Community-Based Support: Medicaid waivers enable community-based care, preventing institutionalization and fostering at-home independence for those with severe disabilities or in need of 24-hour care.
- 💉 Access to Medications: Patient assistance programs are a lifeline for high-cost medications like Farxiga and SKYRIZI, often accessible to individuals with higher incomes than you might expect.
- 🤝 Help Beyond Healthcare: The episode discusses PACE and the Katie Beckett waiver, showcasing how industry professionals can guide their clients through complex benefit landscapes.
Tune in for an enlightening discussion that could revolutionize the way you support your clients.
🎙️ Get empowered with knowledge to serve your clients better, every step of the way!
Questions to think about while listening to today's episode:
1. How can Medicaid waivers transform the care experience for individuals with severe disabilities, and what impact does this have on their quality of life?
2. What are the key differences between institutional care and community-based care under Medicaid waivers, and why might a family choose one over the other?
3. With some states offering Medicaid waivers with no income limits, how can this affect the perception of Medicaid as a program solely for low-income individuals?
4. What are the challenges and benefits of family caregiver programs that allow family members to be compensated for providing care?
5. How does the classification of 'homebound' affect the ability for veterans with PTSD and other trauma to receive support, and what resources are available to them?
6. In what ways do patient assistance programs bridge the gap for individuals struggling with the high costs of prescription medications, and what role does eligibility play?
7. Considering the complexity of patient assistance programs, how important is it for clients to work with professionals or to use resources like NeedyMeds.com?
8. Discuss the ethical considerations of companies like NiceRx charging a monthly fee for services that might be provided for free by others. How should clients be informed about these options?
9. With the use of compounding pharmacies and Canadian pharmacies as alternatives to traditional pharmacies, what pros and cons should clients be aware of?
10. How can professionals in the insurance and healthcare fields help clients navigate and maximize the benefits of programs like PACE and specialized Medicaid waivers, and why is this knowledge crucial during the Annual Enrollment Period?
Joanna Wyckoff from Topflightagent.com and Kathe Kline from CertifiedMedicareAgents.com talk about building a Medicare Insurance Agent business. (Use the code Babes2024 to get a free Bronze membership in the CertifiedMedicareAgent.com directory).