What Are The Differences Between Medicaid And Medicare Individual Health Insurance?

Medicaid and Medicare individual health insurance sound alike, so it makes sense why many people confuse these two for being the same. However, the last four letters at the end of both of them represent two separate programs.

While both of these programs have the same goal to help Americans get the medical care they need, they are meant to provide coverage for different demographics. Agencies such as The Benefit Link are an excellent resource for information about Medicare and Medicaid. If you want to find out about the key differences between these programs, we suggest you keep reading this article.

What is Medicare affordable health insurance, and how it works?

First, let’s go through the key elements of Medicare affordable health insurance and how it works. This program is a federally funded healthcare insurance and every American who is 65 years or older is eligible for it. Similarly, some individuals who are younger than 65 but have some disabilities are also covered under Medicare. People who qualify for Medicare can also buy supplemental insurance from private health insurance organizations

; however, Medicare remains the primary healthcare coverage provider for seniors and the disabled in the US.

People who have worked for at least ten years or if their spouse has worked for the same duration and paid for the Medicare program in the form of taxes can qualify for premium-free Medicare Part A. However, if you get Medicare Part B, you have to pay a premium for this plan. You can also get Medicare Part D, and Medicare Part C provided through private health insurance companies.

Medicaid and how it works?

Medicaid is also a healthcare-related program funded by the US government; however, it does not consider the individual’s age but considers income when deciding who is eligible and who isn’t. In short, Medicaid is a public health insurance program that ensures that individuals with low income can get the healthcare they need.

These low-income individuals might not be able to afford healthcare without the aid of Medicaid. With that being said, some elderly and disabled individuals may also qualify for Medicaid.

Every state has its own Medicaid, and therefore your state may determine if you get additional benefits on top of the primary benefits provided under Medicaid. In addition to this, states also have the authority to extend income eligibility cut-off. This cut-off can be different depending upon the family’s size and the household’s gross income. Medicaid covers the following costs:

  • Inpatient and outpatient hospital services for both emergency and non-emergency healthcare
  • Diagnostic care for children including screening, and treatment of the diseases
  • Nursing facility cost in case you need additional care from professional nurses for rehabilitation and recovery
  • Home-based healthcare cost if you need healthcare provided to you at your residence
  • Cost of physician care and checkup costs
  • Rural health clinic services if you are in a rural area
  •  X Rays and laboratory tests such as blood, urine, and other necessary pathological diagnostic costs
  • Support and guidance regarding family planning
  • Midwives services cost in case you need assistance at the time of your child’s birth
  • Birth center services including the cost of care for the mother and child
  • Pediatric expert and family nurse services
  • Counseling cost for pregnant women to help them in quitting smoking

According to estimates, more than 73 million people are currently on Medicaid, which shows the effectiveness of this plan. With such a high enrollment number, it is also the biggest insurance program available in America. In case a person is eligible for both Medicare and Medicaid in that case Medicare pays first. Both of these health insurance plans have their significance and for more information about them, contact your nearest insurance agency.

Check Our more interesting articles related to Health. Click here.