Medicare Comparison
Medicare and Medicaid
There are various types of insurances in today's world. Two of them being Medicare and Medicaid. Founded in 1965 as part of President Lyndon Johnson's "Great Society", they share differences and few similarities. They are social insurance programs that allow the financial burdens of illness to be shared among health and sick individuals, and affluent and low income families.
Medicare is a federal program that provides health coverage if yon are 65 years or older, are a younger patient with a disability, or a dialysis patient. For those who use Medicare, their medical bills are paid from trust funds which those covered have paid into. Medicare is also broken into four parts; Medicare A, B, C, and D. Medicare A is …show more content…
Medicaid is a state federal program that provides health coverage to any age people with low income. Medicaid covers children, elderly people, the blind, disabled people, and other people who are eligible to receive federally assisted income maintenance payments. Patients who use Medicaid usually pay no part of costs for covered medical expenses. However, since Medicaid is a state govermnent program, the requirements and procedures vary across state lines and people have to check to see if they are eligible for the …show more content…
However, these insurance programs have a lot of differences and very few similarities. Medicare only provides insurance to those who are over the age of 65, while Medicaid provides insurance to people of every age. Medicare does not pay for long term care, while Medicaid does. Medicare will only pay up to 100 days in a skilled nursing facility. While many people can get Medicare, only those eligible can apply and get Medicaid. Medicaid is for people with financial needs. Medicare is also regulated under the federal government and is the same for everywhere in the United States. Medicaid is a state government program therefore its policies vary according to each state. Although Medicare and Medicaid have many differences, they do cover a variety of similar things. Medicare and Medicaid will cover inpatient stays at a hospital or nursing facility, visitations at clinics, and prescription drugs. Also, each payment for these insurance plans are different according to each person and/or
There are various types of insurances in today's world. Two of them being Medicare and Medicaid. Founded in 1965 as part of President Lyndon Johnson's "Great Society", they share differences and few similarities. They are social insurance programs that allow the financial burdens of illness to be shared among health and sick individuals, and affluent and low income families.
Medicare is a federal program that provides health coverage if yon are 65 years or older, are a younger patient with a disability, or a dialysis patient. For those who use Medicare, their medical bills are paid from trust funds which those covered have paid into. Medicare is also broken into four parts; Medicare A, B, C, and D. Medicare A is …show more content…
Medicaid is a state federal program that provides health coverage to any age people with low income. Medicaid covers children, elderly people, the blind, disabled people, and other people who are eligible to receive federally assisted income maintenance payments. Patients who use Medicaid usually pay no part of costs for covered medical expenses. However, since Medicaid is a state govermnent program, the requirements and procedures vary across state lines and people have to check to see if they are eligible for the …show more content…
However, these insurance programs have a lot of differences and very few similarities. Medicare only provides insurance to those who are over the age of 65, while Medicaid provides insurance to people of every age. Medicare does not pay for long term care, while Medicaid does. Medicare will only pay up to 100 days in a skilled nursing facility. While many people can get Medicare, only those eligible can apply and get Medicaid. Medicaid is for people with financial needs. Medicare is also regulated under the federal government and is the same for everywhere in the United States. Medicaid is a state government program therefore its policies vary according to each state. Although Medicare and Medicaid have many differences, they do cover a variety of similar things. Medicare and Medicaid will cover inpatient stays at a hospital or nursing facility, visitations at clinics, and prescription drugs. Also, each payment for these insurance plans are different according to each person and/or