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HEALTH SECTION
People confuse Medicare and Medicaid all the time, but what's the difference?
Medicaid is funded by states and the federal government combined.
Medicaid enrollees typically aren't charged premiums or deductibles, depending on their income and asset levels.
Medicare and Medicaid are two distinctly different healthcare programs.
What is Medicare?
Medicare is a federal health insurance program that typically serves people aged 65 and older. Enrollment before age 65 may be possible for people with certain disabilities, end-stage renal disease, or ALS.
People collecting Social Security or certain disability benefits are enrolled in Medicare automatically at age 65.
Otherwise, enrollees typically get a seven-month period to sign up that begins three months before the month they turn 65 and ends three months after the month of their 65th birthday. Although, if you wait to sign up (for Medicare health insurance benefits) after your 65th birth month (the three months after) you might not have health insurance benefits or lose health insurance coverage if employer coverage or ACA/Obama Care health insurance ends the month you turn age 65.
What is Medicaid?
Medicaid is a health insurance program for low-income individuals jointly funded by states and the federal government. Although the federal government oversees Medicaid, each state administers it for its residents. Each state is tasked with setting its income thresholds for eligibility and deciding what benefits its Medicaid plans offer.
Many enrollees in Medicaid don’t pay premiums or deductibles since they’re based on income.
Differences in coverage
One key difference between Medicare and Medicaid is that the former (Medicare) is largely age-based, while the latter (Medicaid) is income-based. This means that people 65 and over can qualify for Medicaid despite also being eligible for Medicare.
Medicaid covers low-income adults under, over, or exactly 65, children, and people with certain disabilities.
Medicare only covers Americans 65 and over and those with certain disabilities or the health conditions noted above.
Not only are Medicare and Medicaid different in terms of eligibility, but they also differ in terms of the services they cover.
All states must provide certain benefits through their Medicaid programs, including physician services, hospital services, lab work, and X-rays.
Some state Medicaid programs also cover dental care, eye exams, and glasses — services often covered by Medicare Advantage plans but not original Medicare.
Medicaid plans may also cover additional services not paid for by Medicare, including nursing home care, personal care, and home-based services.
To read the whole article, click below. (Article for informational purposes, not political)
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