A question we often get is “What is the difference between Medicare and Medicaid?” At times our members don’t even realize there is a difference. Both are government sponsored programs created to help cover health care cost, funded by taxpayer dollars.

Difference between Medicare and Medicaid?

Medicare is the federal program that provides healthcare, regardless of your income, if you’re older than 65 or have a disability. There are numerous parts to Medicare: Parts A, B, C, and D.

Medicaid is a federal-state assistance program (meaning it varies from state to state) and provides healthcare if you have low income, regardless of age. It also can assist with long-term custodial care for children needing low-cost care whose families earn too much to qualify for Medicaid and are covered through the Children’s Health Insurance Program (CHIP) — a program with its own set of byzantine set rules and eligibility requirements.

Key Differences Between Medicaid and Medicare

  • Eligibility for Medicare has nothing to do with income level.
  • Medicaid is designed for people with limited income, and often for those without other options.
  • Eligibility for Medicaid is determined on a state-by-state basis.

How Do I Sign Up for Medicaid or Medicare?

Medicaid is a bit more complicated and you need to be eligible to apply. Find out if you’re eligible for Medicaid here and apply either via the Health Insurance Marketplace or directly via your state Medicaid agency.

How Much Will Medicare Cost?

Originally published at advice.retirety.com on November 28, 2018.

Co-Founder of ayrshare.com — an API-first platform to automate your social media posts with a few lines of code.

Co-Founder of ayrshare.com — an API-first platform to automate your social media posts with a few lines of code.