Medicaid.

In plain English

Medicaid is a joint federal and state program that provides free or very low-cost health coverage to people with low income. Each state runs its own version within federal rules, so who qualifies and what is covered varies by state. It commonly covers children, pregnant people, parents, older adults, and people with disabilities, and in many states adults under a certain income level. Unlike marketplace plans, there is no single yearly open enrollment, so you can apply any time. Income limits are set by your state, so the cutoff in one state can differ from the cutoff next door, and you check the current limit with your state Medicaid agency or medicaid.gov.

01Why it matters

If your income is low, Medicaid can mean full health coverage at little or no cost, and because you can apply year-round, it is often the fastest route to coverage after a job loss or income drop.

02The math, step by step

Say your income drops sharply after losing a job. You apply through your state, which checks your household size and income against its Medicaid limit. If you fall under the cutoff, you may get coverage with no monthly premium and very small or no copays. Whether you qualify depends on your state's specific income limit, which you check with your state Medicaid agency.

03What this is NOT

04Receipts

Every figure on this page is sourced to a primary document. Tap to open the original.