medicaid and medicare: do you know the difference

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MEDICAID AND MEDICARE

Do You Know the Difference?


MEDICAID AND MEDICARE


Medicaid and Medicare are two government healthcare assistance programs that are commonly confused with one another.


Medicaid and Medicare are two government healthcare assistance

programs that are commonly confused with one another. Both were created as part of the Social

Security Act.


They are alike in many ways, but the benefits they offer and the

eligibility requirements for each are different. Here's what you need to know about these two beneficial

programs and their requirements.


WHAT IS MEDICAID?


Medicaid is a government healthcare assistance program that is made available to low income

individuals, regardless of age or disability.


Patients with Medicaid normally pay a small co-pay, if anything at all. Through this program, health

care expenses are paid with federal, state and local tax funds.


Since Medicaid is administered by each state, the eligibility

requirements and available benefits may be different from one state to

the next.


GENERAL ELIGIBILITY REQUIREMENTS FOR MEDICAID


The Affordable Care Act of 2010 established a national Medicaid minimum eligibility level of

133% of the federal poverty level.


In 2016, that would be $ 15,654 for an individual or $32,252 for a

family of four.


In addition to the financial criteria, eligible individuals need to satisfy

federal and state requirements regarding residency, immigration

status, or U.S. citizenship.


MINIMUM BENEFITS PROVIDED BY MEDICAID


Although Medicaid is state-run, there are basic benefits that the federal government

requires each state to provide.


Here are some examples of required benefits:


MINIMUM BENEFITS PROVIDED BY MEDICAID


HOW IS MEDICAID DIFFERENT FROM MEDICARE?


Medicare is more of a health insurance program.


Here are some examples of required benefits:


Patients who receive Medicare pay only portion of their medical care

costs through deductibles and monthly premiums.


Medicare benefits are generally provided by private companies who have contracts with the government

to provide care. Since Medicare is federally-run, the requirements for

coverage are more uniform.


WHAT ARE THE ELIGIBILITY REQUIREMENTS FOR MEDICARE

COVERAGE?


In order to receive Medicare coverage, either you or your spouse must have worked

at a Medicare-covered job for at least 10 years.


You can qualify for Medicare based on your spouse's work record if he or she is at least age 62 and you are

at least age 65.


That includes a divorced or deceased spouse. Medicare coverage

also requires United States citizenship or permanent residency.


FOUR AVAILABLE MEDICARE PLANS


Medicare benefits plans are divided into four “Parts,” each designed to provide a

different type of service.


Medicare Part A provides hospital coverage.

Medicare Part B provides other

medical coverage.


Medicare Part C includes “Medicare Advantage Plans” and

Medicare Part D is prescription

drug coverage.


Consult with an attorney to determine which program(s) to

enroll in depending on your needs.


Even with Medicare Parts A, B, C, and D, you may still have gaps in your overall healthcare coverage.

If so, you can enroll in the Medicare Supplement Insurance Plan, known

as a “Medigap” policy.


MEDICARE PART A AND PART B


CONTACT US!


If you have questions regarding Medicaid, or any other elder law

needs, please contact The Vermillion Law Firm, LLC for a

consultation either online.


LEARN MORE ABOUT MEDICAID AND MEDICARE IN TEXAS


(972)386-4560 www.VermillionLawFirm.com

The Vermillion Law Firm, LLC