What is the difference between Medicare and Medicaid?

Medicare and Medicaid are both health insurance programs designed to help people pay for essential medical services, but there are important differences between the two. Medicare is a federal health insurance plan that provides coverage for people 65 and older, as well as certain younger people with disabilities and people with end-stage renal disease. It is funded by a combination of payroll taxes and beneficiary premiums. Medicare does not currently cover long-term care services. On the other hand, Medicaid is a jointly funded state and federal health insurance program for low-income people of any age, as well as certain disabled people and others needing medical care with limited financial resources. It is administered by the respective states, although the federal government sets certain minimum requirements that must be met in order for the state to receive its share of funding. Medicaid usually covers a broader range of services than Medicare, including long-term care, prescription drugs, and other services not typically covered by Medicare. In summary, Medicare is a federal health insurance program primarily for people age 65 and older, while Medicaid is a state and federal insurance program designed to provide health coverage to people with limited income. Medicare typically covers fewer services than Medicaid, and does not cover long-term care. Medicaid, however, often covers a wider variety of services, including long-term care.

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What is the difference between Medicare and Medicaid?

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