What is Medicare/Medicaid?My PublicationsMy Publications
During this period, though, one question often arises: What is the difference between Medicare and Medicaid? While these two programs share a common goal — providing access to healthcare — Medicare and Medicaid serve very different populations and operate under distinct guidelines. But with so ...
Medicare eligibility is for people who are 65 or older, or who have a disability, end-stage renal disease, or ALS (Lou Gehrig's disease). Medicaid is for low-income people or those who need long-term care and have run out of other resources for those payments. You may be dually eligi...
Medicare vs. Medicaid: Eligibility Medicare eligibility is mostly based on age, while Medicaid eligibility is mostly based on income. Medicare Most people qualify for Medicare when they turn 65. Medicare also covers certain younger people with disabilities and specific diseases, including end-stage ren...
How Medicare Works Medicare is a national health insurance program funded by the U.S. Government and administered by theCenters for Medicare and Medicaid Services (CMS). Payroll taxes primarily fund Medicare, as dictated by theFederal Insurance Contributions Act(FICA). ...
Medicare is a federal health insurance program for U.S. adults age 65 or older and younger people who receive disability benefits.
You can switch plans whenever you become eligible as you’ll qualify for a special enrollment period. Learn the difference between Medicare vs.Medicaid plans. Comparing Medicare Advantage Costs Medicare insurance costsstart at $174/mo but start to increase if you add additional plans or benefits. ...
What’s the Difference Between Medicaid and Obamacare? Medicaid:The health insurance program is provided and run by the government. Obamacare:This is the nickname for the Affordable Care Act, President Obama’s health care reform bill that became law in 2010. The ACA expanded the Medicaid progr...
If you’re already enrolled in Medicaid or a Supplemental Security Income program, you will be automatically signed up for Original Medicare and Medicare Part D. What happens if I refuse Medicare Part D? You incur a 1% penalty for every month you aren’t enrolled in Part D or another insur...
Special Needs Plan (SNP) SNPs cater to specific groups of people, including those with certain chronic conditions, those eligible for both Medicare and Medicaid, or those living in certain institutions. These plans tailor their benefits, provider choices, and prescription drug formularies to meet th...