Medicare and Medicaid are the two services rendered by the US government to their citizens. Since Medicaid and Medicare sound similar, people often confuse these terms and definitions. These two services, Medicare and Medicaid, provide different medical coverage to their buyers. Wondering, “What is medicare vs Medicaid? Let’s find it out!
If we precisely discuss the two terms, Medicare renders its services to individuals aged 65 or above or disabled. The Medicaid program is designed for individuals with limited incomes and who cannot afford hefty medical bills. Furthermore, Medicare is available to those who cannot access specific resources.
Here we discuss Medicare and Medicaid in-depth and figure out the difference between Medicare and Medicaid.
What Is Medicare vs Medicaid?
The Medicare insurance program aims to cover older adults medical expenses aged 65 or above. Medicare is responsible for all bill payments if one reaches 65 or above.
Moreover, individuals with certain disabilities can also avail of Medicare services. The Medicare program includes four parts, which are as follows:
- Hospitalization coverage – Part A
- Medical Insurance – Part B
- Medicare Advantage plans – Part C
- Prescription drug coverage – Part D
Hospitalization Coverage (Part A)
Medicare Part A is responsible for the hospital expenses of individuals aged 65 or above. To be eligible for Medicare, you or your partner should have worked and paid the Medicare fees for at least ten years.
Medical Insurance (Part B)
Those who are eligible for Part A also have authority over Part B services. The Part B services of Medicare include:
- The doctor’s visit fees.
- Medical tests.
- Wheelchair expenses.
- Outpatient surgeries.
- Prevention measures, such as tests, screening, and flu shots.
Medicare Advantage Plans (Part C)
The leading private companies give coverage to Part C services of Medicare. Likewise, Part A and Part B services also get the benefits of Part C. Specifically, Part C services include hearing, vision, and dental services to which Medicare gives its coverage.
Coverage to Medical Prescriptions (Part D)
For the individuals who have the facility of Part D services of Medicare, Medicare covers the prescribed drugs’ expenses. Also, they must pay the premiums and some other payments necessary by Medicare. People with Part A, B, and C would go for Part D only when they are not given medical drug coverage.
Medicaid is an assistance program designed for individuals with limited employment and who cannot afford the heavy hospital bills. This program is eligible for individuals of every age. People don’t have to pay even one cent for the covered medical services. Sometimes you must make some necessary payment, or else everything is Medicare’s responsibility. Since Medicare is a federal-state program, so it varies from state to state. The state and the local government manage it. You can prove Medicaid eligibility if your employment is extremely low.
Many people still do not clearly see the difference between Medicare and Medicaid. So, this whole article will steer clear of your confusion.
To conclude, there are situations where people get a chance and become eligible for Medicare and Medicaid Services. Certain individuals have income streams even at the age of 65 or above, and in that way, they enjoy dual coverage. In dual coverage, Medicaid is always a secondary coverage, and Medicare acquires the primary position.
Furthermore, one must prove Medicaid eligibility to get the facility of Medicaid. Only then can he qualify for it.
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