Medicare vs Medicaid

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Medicare vs Medicaid Health Insurance

What’s the Difference between Medicare & Medicaid?*

Medicare is a Federal health insurance program. Medical bills are paid from trust funds which those covered individuals have paid into. It serves people over 65 primarily, whatever their income; and serves younger disabled people and dialysis patients. Patients pay part of costs through deductibles for hospital and other costs. Small monthly premiums are required for non-hospital coverage.

Medicaid is a social insurance program. Medical bills are paid from federal, state and local tax funds. It serves low-income people of every age. Patients usually pay no part of costs for covered medical expenses. A small co-payment is sometimes required. Medicaid is a federal-state program. It varies from state to state. Medicaid covers a wider range of health care services than Medicare.

Who Runs Medicare vs. Medicaid?

Medicare is basically the same everywhere in the United States and is run by the Centers for Medicare & Medicaid Services, an agency of the federal government. Medicaid is run by state and local governments within federal guidelines.

Where Does Medicare and Medicaid Get their Money?

Unlike Medicaid, Medicare is a social insurance program funded at the federal level. Medicaid is a program that is not totally funded at the federal level. States provide up to half of the funding for the Medicaid program. In some states, counties also contribute funds. Unlike the Medicare entitlement program,

You can apply for Medicare online at Social Security, in person at a local Social Security office, or by phone. Call Social Security at 1-800-772-1213. TTY users should call 1-800-325-0778.

To apply for Medicaid health insurance, fill out an application in the Health Insurance Marketplace.

 

 

*Source: http://answers.hhs.gov