What is Medicaid?
Medicaid is a federal-state program that helps serve low-income people of every age that needs assistance. Medicaid usually covers no parts of costs for covered medical expenses for patients. You will sometimes be required to pay a small co-payment. Where state and local governments run Medicaid within federal guidelines, it varies from state to state.
What is Medicare?
Medicare is a federal insurance program, and it applies to people over 65, People with End-Stage Renal Disease (ESRD), and certain younger people with disabilities. Patients with Medicare pay part of costs through deductibles for hospital and other costs, and they pay a small monthly premium for non-hospital coverage and is required. You may wonder how does this program pays for the medical bills? Medicare pays medical bills from trust funds, which those who are covered have paid into.
The Difference Between the Two?
Now that you know what Medicaid and Medicare are. Let’s discuss the difference between the two. Medicaid is managed by the states and is based on income, while Medicare is managed by the federal government and is based mainly on a person’s age. There are unique cases for Medicare, such as specific disabilities and health problems that allow someone under 65 to qualify for Medicare. People that apply to both conditions are eligible for both plans; this is known as dually eligible. You can have both programs, which will work together to help lower your costs and provide you with health coverage.