The Difference Between Medicare And Medicaid

Medicare Medicaid What Is The Difference?

I am asked this question many times each day so I have decided to write this post to provide a definition, summary and an overview of some benefits related to each program.

Medicare

Medicare is a health insurance program for those 65 or older and those receiving Social Security Disability disability for 2 years or more. Some will also receive Medicare for certain medical conditions such as end-stage renal disease or Lou Gehrig’s disease.  Medicare is administered by the FEDERAL Government.

Original Medicare is composed of Part A (hospital benefits) and Part B (outpatient services). Anyone American citizen who has worked a combined total of at least 40 quarter in their lifetime and paid taxes is eligible for Medicare A with no premium. There is a premium for Part B. The Part B monthly premium is loosely based on your income bracket.  For specific  premium information please refer to the

Medicare And You 2011 Handbook

Medicaid

Medicaid  is a health insurance program for those who are considered low-income based on specific guidelines set forth by Federal, State and County agencies. Medicaid is funded by States and Counties as well as subsidies from the Federal Government. Medicaid is NOT Medicare and is administered at the COUNTY level. To apply for Medicaid you will want to visit your local Social Services office.

Dual Eligible Beneficiaries

There are some who may be eligible for both Medicare And Medicaid. If a beneficiary is eligible for both programs the term used is “dual eligible”. In these cases Medicare would be the primary payer. Dual eligible beneficiaries must re-certify with Social Services each year and report any changes or increases in income.

I will be adding more detailed information related to this topic in the very near future, however, you can find many guides, forms and publications by visiting http://www.choicesformedicare.com or leave a comment and I will be happy to help.

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Discover The Many Medicare Health Insurance Options For Seniors

There are many health insurance options for seniors which include standard Medicare and standardized Medicare Supplemental insurance plans. These Medicare Supplemental insurances are also called Medigap policies of which there are twelve.

Every Medicare Supplemental insurance plan, labeled A through N, offers the same coverage at varying benefit combinations and premiums. Not all Medicare Supplemental insurance plans are offered in every county statewide. Some states will have their own plans that offer coverage that is comparable to the countrywide plans.

Given that these are standardized Medicare Supplemental plans, the coverage is identical for all twelve plans. The difference is only in the cost of the plan. While all plans cover the same items in different combinations, there will be a difference in premium between companies.

Here are a few things that everyone should know about Medicare Supplemental coverage plan premiums. Continue reading