What is Medicare and How it Works?

Top Medicare Quotes Now is a program that provides health insurance for adults over 65 and those with certain disabilities. Medicaid, another federal assistance program, provides health coverage for eligible low-income adults, children, pregnant and elderly women, as well as people with disabilities. This program assists low-income households with their healthcare costs. Medicaid assistance is administered by the State, but it is regulated by law.

Medicare Vs. Medicaid Eligibility

Medicare Eligibility

A person is eligible to Medicare when they reach 65 years old (or younger for people with certain disabilities). No matter elder care medicare history, all U.S. citizens can be eligible for Medicare coverage. After you reach 65 years old and have not claimed social security benefits, enrollment in Medicare Part A or Part B becomes automatic. You may also enroll during certain enrollment periods.

Medicaid Eligibility

Income determines eligibility for Medicaid. For children, pregnant mothers, parents, and adults, income eligibility is determined by Modified Adjusted gross Income (MAGI). Eligibility for adults over 65 years old is determined by the income methods of the SSI program, administered by the Social Security Administration. After eligibility is determined, Medicaid benefits are available immediately. Individuals can apply for Medicaid benefits at any time - there is no set enrollment period.

Medicare Vs. Medicaid Cost

Medicare Cost

Medicare is divided into medicare parts, with each one having a different cost. The costs for each part are generally a monthly premium and deductible as well as copay and/or insurance. The majority of individuals who don't need to pay a premium for Medicare Part A are those who have worked at least 10 year and have paid Medicare taxes.

Medicaid Cost

Medicaid recipients are often not required to pay for healthcare expenses also medicare dental. However, they may have to pay a small copayment. As cost-sharing for Medicaid coverage, certain groups of Medicaid recipients may be subject to enrollment fees and premiums. For more information about Medicaid costs, visit Medicaid.gov.

Are You Eligible for Both Medicare and Medicaid?

Yes, both medicaid vs medicare are eligible for the state Medicaid program. Dual eligible special needs plans (D-SNPs) are available that cover both Medicare and Medicaid benefits. These plans can also cover expenses that are not covered individually by one of the two, such as hearing aids and over-the-counter items. Dual eligible people generally don't have to pay out-of-pocket healthcare costs. Dual eligible individuals receive a covered service, and Medicare pays first. Medicaid covers the rest.