Medicare vs. Medicaid

The terms Medicaid and Medicare are often confused or used interchangeably. They sound extremely similar, but these two programs are actually very different.

Each is regulated by its own set of laws and policies, and the programs are designed for different sets of people. In order to select the correct program for your needs, it’s important to understand the differences between Medicare and Medicaid.

Medicare is a policy designed for U.S. citizens age 65 and older who have difficulty covering the expenses related to medical care and treatments. This program provides support to senior citizens and their families who need financial assistance for medical needs.

People under the age of 65 living with certain disabilities may also be eligible for Medicare benefits. Each case is evaluated based on eligibility requirements and the details of the program.

Those in the final stage of kidney disorders can also apply for the benefits of a Medicare policy.

Medicaid is a program that combines the efforts of the U.S. state and federal governments in order to assist households in low-income groups with healthcare expenses, such as major hospitalizations and treatments as well as routine medical care.

It’s designed to help those unable to afford quality medical care and who don’t have other forms of medical coverage due to strained finances.

People receiving Medicare benefits pay part of the cost through deductibles for things like hospital stays. For coverage outside the hospital, such as a doctor’s visit or preventive care, Medicare requires small monthly premiums. There may also be some out-of-pocket costs for things like prescription drugs.

People receiving Medicaid benefits often don’t have to pay for covered expenses at all, but some cases require a small copayment.

In order to enroll in each program, you must meet certain criteria.