Are Medicare And Medicaid The Same Thing?

Highlighting the difference between Medicare and Medicaid.

Medicare and Medicaid are not the same thing. Medicare is for the elderly or disabled. Medicaid is for those who are at or below poverty level and meet certain requirements for enrollment.

Medicare

Medicare is a federally funded program ran by the United States Department of Health and Human Services. Medicare was designed to provide health care to individuals who have reached the age of 65 or have certain disabilities or diseases. There are four parts to Medicare coverage. Part A covers hospital expenses. Part B covers medical expenses other than hospital such as doctors visits. Part C refers to Advantage Plans that are approved by Medicare but ran by private insurance companies. Part D refers to a prescription drug plan that covers some of the expense of medications prescribed by your doctor. Medicare requires a premium to be paid for coverage. This premium is based on either your income while you worked or by the private insurance company that you choose for your supplemental coverage. Medicare Parts A and B do not offer vision or dental coverage. These benefits are usually covered by Medicare Part C either as a benefit of the policy or for an additional charge.

Medicaid

Federal funding is not used for Medicaid. Medicaid is a state sponsored program designed to provide health care to individuals who meet certain requirements. Each state sets its own requirements for enrollment. These requirements include age, income and resources, disability, whether you are pregnant, and if you are a U.S. citizen or legal immigrant. Special rules apply for those in nursing homes or those who have disabled children living with them. Medicaid covers basic health expenses and pays these directly to the health care provider. No premium is required for Medicaid coverage and little or no co-pay is required at the time services are received. Prescription coverage is included with Medicaid.

Related posts

1. Can I Be On Medicaid And Medicare?
2. What Are My Main Choices For Getting Medicare Coverage?
3. What Is A Medicare Buy In Program?
4. If I Am Medicaid Eligible, Does The Coverage Gap Affect Me?
5. Can One Switch From Medicare Part B to Medicaid Easily?

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