It’s essential to consider the difference between Medicare and Medicaid to choose the best health insurance for you.
Medicare: Older and Disabled Americans
Medicaid: Lower-Income Americans
Medicaid is a federal-state health insurance initiative that covers low-income individuals, households, and teenagers, as well as pregnant mothers, the elderly, and those with disabilities. Medicaid is often preferred for people who do not have access to most healthcare options.
Since Medicaid is a state-run program, each state sets its eligibility and coverage rules. Depending on your income, household size, disability, family status, and other variables, you might be eligible for Medicaid in your state. The following Medicaid benefits are required by federal law, regardless of where you live:
Prescription medicine coverage, physical therapy, and hospice care are only a few of the optional programs offered by Medicaid. Nonetheless, it is up to each state to determine what is covered.
What if You Qualify for Both?
You could be eligible for both Medicare and Medicaid benefits in some cases. It’s referred to as “dual” or “dual qualifying.” Dual Special Needs Programs, or DSNPs, are Medicare Advantage plans designed exclusively for qualifying for both Medicare and Medicaid.