At-Risk Youth Medicaid Protection Act - Amends title XIX (Medicaid) of the Social Security Act to prohibit a state from terminating (but requires it to suspend) eligibility for medical assistance for an eligible juvenile during the time he or she is an inmate of a public institution.
Requires the state to establish a process to ensure that: (1) it does not claim federal financial participation for items and services excluded from covered medical assistance, and (2) the eligible juvenile receives items and services which are covered and for which federal financial participation would have otherwise been permitted but for the juvenile's status as an inmate.
Requires the state to: (1) restore automatically full eligibility for such medical assistance to an eligible juvenile upon release from the institution; and (2) take all necessary steps to ensure that the juvenile can begin receiving medical assistance under Medicaid immediately upon such release, unless he or she no longer meets state or federal eligibility requirements.