What is the difference between Medicare, Medigap and Medicaid?
Simply put, Medicare is the national health insurance for people over 65 and certain disabled people under 65. It comes in two parts: “Part A” covers hospital expenses while “Part B” covers doctor bills and other medical expenses. Medigap insurance is designed specifically to supplement and complement Medicare benefits by filling in some of the gaps in coverage. Medigap insurance policies are non-group policies that may pay for Medicare deductibles, prescription drugs, or other services not covered by Medicare. Medicaid is a government health insurance program for low-income individuals. Medicaid covers a wide range of health care services including the cost of long-term care for individuals meeting program clinical and financial eligibility requirements.
