Medicare vs. Medicaid

The U.S. government provides substantial aid to its people through public health insurance initiatives and programs. Medicare and Medicaid are both public health programs that provide benefits to millions of Americans. Though, people often get the two programs confused.

If you’ve run into this issue, here are some more details about Medicare and Medicaid.

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What is Medicare?

Senior citizens and people with disabilities are considered vulnerable populations that may not have employer-based health insurance. To keep them healthy, the federal government implemented the Medicare program. Through this program, people aged 65 and older, as well as people with disabilities, receive health insurance that helps them pay for a variety of health services.

Medicare benefits are not free, but they are quite affordable. Patients are required to pay deductibles for their hospital costs, as well as other costs, such as copayments. Premium payments are also paid to maintain coverage, except with Part A in some cases. Some Medicare beneficiaries actually qualify for premium-free Medicare Part A.

What is Medicaid?

Medicaid is a health insurance program that serves low-income people. There is no age limit for Medicaid applicants to meet. Instead, the program requires that people who receive benefits be in a certain income bracket. The level of income that is acceptable depends on which state the applicant resides in.

Because Medicaid is a federal-state program, it receives funding from both state and local governments, but is administered within federal guidelines. Generally, Medicaid-covered services do not require any payments.

Which One Do I Need?

If you are age 65 and older, it may make sense to get Medicare instead of Medicaid. Though, people who have a low enough income could qualify for both Medicare and Medicaid at the same time. Likewise, someone who qualified for Medicare due to a disability could also qualify for Medicaid if their income is low enough.

To find out if you should get Medicare, Medicaid, or both, contact one of the representatives at Medicare Advisor of Louisiana LLC.