What is the difference between Medicare and Medicaid?
In general, Medicare is the government benefit program that covers medical expenses such as hospital bills and doctors fees for individuals who are at least 65 years old, or sooner, if the individual is disabled, regardless of how much money that individual owns. Medicaid is the government benefit program that can cover nursing home and assisted living care costs, but only if the individual meets the asset and income requirements of the Medicaid program. 2.
Medicare is federal health insurance for people over 65 and certain disabled people under 65. Medicare is divided into two parts: Part A, hospital insurance, and Part B, medical insurance. Part A covers inpatient care in hospitals and limited coverage in a skilled nursing facility. Part B covers physician and outpatient services. Medicaid is a federally mandated program providing health insurance benefits for low income individuals and families. The program is financed largely through federal funds but is administered by each state through their Medicaid agency. In Massachusetts, the Medicaid program is called “MassHealth”. Medicaid is the program that pays for long term stays in nursing homes provided the applicant has met rigid eligibility requirements.
Related Questions
- The Centers for Medicare & Medicaid Services (CMS) Change Request from May 2, 2008 seems to state that only UB-04 claim form billers must include NDC information. Is that correct?
- I received a letter from Social Security that Medicaid will pay my Medicare premium for Part B. When will Medicaid start paying?
- Can I buy Tri-Luma without Health Insurance, Medicare or Medicaid?
