Self-Instruct
Medicare and Medicaid are both government-funded health insurance programs, but they serve different populations and have different eligibility requirements. Medicare is a federal program that provides health insurance to people aged 65 and over, people under 65 with certain disabilities, and people with end-stage renal disease. Medicaid, on the other hand, is a state-run program that provides health insurance to people with low incomes, regardless of age.
Medicare covers most medical expenses, including hospital care, doctor visits, preventive care, and some prescription drugs. It also covers some home health care and hospice services. Medicaid covers a wider range of medical expenses than Medicare, including long-term care, mental health services, and some dental care. It also covers some home health care and hospice services.
Medicare is funded by a combination of payroll taxes, premiums, and general revenue, while Medicaid is funded by both federal and state governments. Medicare is an entitlement program, meaning that anyone who meets the eligibility requirements is entitled to coverage. Medicaid, however, is a means-tested program, meaning that applicants must meet certain income and asset requirements to qualify.
In terms of cost-sharing, Medicare has deductibles and coinsurance, while Medicaid has copayments and deductibles. Medicare also has an out-of-pocket maximum, while Medicaid does not.
Overall, Medicare and Medicaid are both government-funded health insurance programs, but they serve different populations and have different eligibility requirements. Medicare covers most medical expenses, while Medicaid covers a wider range of medical expenses. Medicare is an entitlement program, while Medicaid is a means-tested program. Medicare has deductibles and coinsurance, while Medicaid has copayments and deductibles.