There is a lot of confusion about the differences between Medicare and Medicaid. Various plans are associated with Medicare, including Medicare Part D, Medicare Advantage and Medicare Supplemental Insurance. If you’re a senior citizen, you should know which of the health plans will benefit you the most, especially if you’re living on a fixed income. You should also know which option is the best for you if you can’t afford health insurance from a private company. The Medicare program is for people who are over the age of 65, and for some people who are under 65 if certain physical disabilities afflict them.
The main difference between Medicare and Medicaid is that the Medicaid program was designed for low income individuals who aren’t able to afford health insurance. Medicaid is available for families who have a low income as well as low income singles. Medicare will provide benefits to people who are under the age of 65 if they have worked but have become disabled. It’s available to anyone who paid into the program while they were working. For Medicaid, the criteria vary depending on the state you live in and individual financial circumstances.
Another factor regarding benefits is that Medicaid is usually 50 percent funded by the federal government and 50 percent state sponsored. All of the funding for Medicare comes from the federal government. Medicare Part D 60 also provides coverage for prescription medications. If you are enrolled in Medicaid, a variety of health care services may be provided. These may include hospital stays, nursing and in-home nursing services, x-rays and laboratory services, family planning, treatment at a clinic, and dental care. Medicare is divided into different parts which cover different services.
Depending on the Medicare program you choose to enroll in, co-payments and deductibles may apply. With Medicaid programs, beneficiaries may have to pay a co-payment. The fee for medical services under a co-payment plan may be up to $30 a month. Whether or not payment for deductibles and other services are charged under a Medicaid program depends on the laws of the state you live in. Medicaid can also help with payments for long term nursing facilities for many enrollees. Before choosing to enroll in any health care program, you should take into consideration your income and that of your family. If Medicare seems to be the better option for you, compare the various programs as far as services provided and costs, before you choose one to enroll in.