Will Auto-IRA Programs Affect Medicaid Enrollment?

Karolos Arapakis and Laura D. Quinby

Issues in Brief from Center for Retirement Research

Abstract: State auto-IRA programs require employers without a retirement plan to auto-enroll their workers in an IRA.As participants build up IRA assets, they may end up ineligible for means-tested Medicaid when they retire.The analysis projects that today’s younger workers would end up with meaningful assets. But the effects on Medicaid may be muted, as older cohorts will have lower balances and some younger cohorts may “spend down†to get on Medicaid.Alternatively, states could adapt their Medicaid asset tests to exclude all, or part of, auto-IRA savings – a step already taken by California.

Pages: 7 pages
Date: 2024-11
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