What is the differance between Medicaid and Medicare?
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Both are government-funded programs. Medicaid is funded by the state that you live in and Medicare is funded by the federal government. You have to qualify for both but qualifications are very different.
Medicaid is based on income. It is a form of welfare for children , expectant mothers, and the physically/mentally challenged.
Medicare is a "public fee-for-service" insurance. Disabled persons over 21 qualify for Medicare Part A (hospital benefits only) if they are unable to hold a job and their parents [will] qualify for Medicare benefits at 65 because they paid into it through their employer. Generally, Medicare is for retirees at age 65 when they are [intended to be] no longer employed. Depending on their job type, they can pay for Medicare Part B (physician's office coverage) for about $93 a month.
The biggest differences is that Medicaid is all inclusive (doctors, hospital, prescriptions, nursing homes, etc), while Medicare has different parts with different premiums that cover different situations. With Medicare, people still tend to need Medicaid or other private insurances/supplements to cover high deductibles, copays, and prescriptions.
I have been in the insurance industry for about a year and I changed from nursing. You would be shocked to see how many people are driven into the poor house by Medicare and have to resort to Medicaid and full welfare to support themselves in their senior years. The biggest problem is that the welfare system gets used and abused by so many younger people, that it is hardly available for our parents and grandparents who worked their whole lives and paid for it every payday. It may not even be around in 20 or 30 years.
Medicare kicks in when you are 65+ and you automatically qualify for it.
Medicaid is for those under 65 and you have to qualify for Medicaid.
Medicare is the name given to a health insurance program administered by the United States government, covering people who are either age 65 and over, or who meet other special criteria.
Medicaid is the United States health program for individuals and families with low incomes and resources. It is jointly funded by the states and federal government, and is managed by the states. Among the groups of people served by Medicaid are eligible low-income parents, children, seniors, and people with disabilities. Medicaid is the largest source of funding for medical and health-related services for people with limited income
Although their names are similar, Medicaid and Medicare are very different programs. Medicare is an entitlement program funded entirely at the federal level.[1] It focuses primarily on the older population. As stated in the CMS website,[2] Medicare is a health insurance program for people age 65 or older, people under age 65 with certain disabilities, and people of all ages with end stage renal disease.
Medicaid is not an entitlement program, and it is not solely funded at the federal level. Medicaid is a needs-based program: eligibility is determined by income. States provide up to half of the funding for the Medicaid program. In some states, counties also contribute funds. The main criterion for Medicaid eligibility is limited income and financial resources, a criterion which plays no role in determining Medicare coverage. Medicaid covers a wider range of health care services than Medicare. In 2001, about 6.5 million Americans were enrolled in both Medicare and Medicaid, also known as Medicare dual eligible.
http://en.wikipedia.org/wiki/medicaid...
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