What's the difference between Medicaid and Medicare?
Their names are similar, but Medicaid and Medicare are two completely different programs. A person can qualify for both Medicaid and Medicare.
- Medicare is for almost everyone ages 65 or older, and people with long-term disability, regardless of their income or assets.
- Medicaid is only for people with low income and very few assets other than a home.
Is Medicaid valuable for someone who also has Medicare?
If someone qualifies for both Medicare and Medicaid, Medicare covers most of that person's medical services. But there are a number of medical services that Medicare doesn't cover, which a state Medicaid program might.
Also, Medicare leaves many of a person's medical bills unpaid, even for services Medicare does cover. This includes Medicare premiums, deductibles, and co-payments, as well as the cost of some prescription drugs not covered by a Medicare Part D prescription drug plan.
If Medicare Part A or Part B covers a medical service but leaves some part of the cost unpaid, Medicaid will pay that extra amount for someone who's enrolled in both programs. Someone with both Medicare and Medicaid must enroll in a Medicare Part D plan in order to get their prescription drugs covered, but Medicaid may cover some drugs not included in Medicare Part D plans.
Thank you very much for caring about others, and enhancing the quality of life for all people. GOD Bless you, and GOD BLESS AMERICA!
Thank you very much for Medicaid info. I'm 70 and to the point where I thought I'd never be: having to choose between prescriptions and groceries, etc. So I am looking for assistance. Take meds for diabetes, thyroid, cholestrol, hi blood pressure, seizures, heart and more. Am no longer able to work and cannot stretch pension and Soc. Sec. any further. Medicaid might be the answer?? Thks.
Here's another idea: fix America's LTC system before it's too late. Give Medicaid back to the poor, put Medicaid planners out of business, and unleash the potential of private financing alternatives like insurance and reverse mortgages. The moral: save, invest and insure all you can, especially for long-term care. Because LTC is what you'll need as Medicare pays less and less for fewer and fewer acute care services just to stay in front of the grim fiscal reaper.
Just need to dig a lttle deeper