Medicaid and Medicare

There are several programs and plans, either private or government-funded, that aims to provide medical assistance to individuals who met the certain requirements for qualification. In the United States however, the two most prevalent medical assistance programs are Medicaid and Medicare.

Medicaid is a medical assistance program sponsored by the government and pays for medical bills by using funds from taxes. Medicaid beneficiaries may have to make a very minimal co-payment for services during some occasions, but these happen very rarely.

Medicare is a health insurance also funded by the government, intended for aged individuals, particularly those aged 65 and above. In some instances, it could be available for those younger than 65 but with certain disabilities. The Medicare beneficiary would have to pay a premium for the services of Medicare. Some Medicare-approved private companies also offer Medicare insurance.

These two are often confused with each other. Both are government-backed programs but these two however, are different medical assistance plans. For one, requirements for eligibility are entirely different. Medicare is primarily for aged persons while Medicaid, on the other hand, could be provided for children as young as a year old! Medicaid focuses not on the age but more the individual’s income and physical condition. There are certain eligibility groups designated by Medicaid. The individual hoping to be granted Medicaid assistance must fit in at least one of those groups. Also, the types of medical assistance offered vary especially with Medicare. Another big difference is that the costs to be paid by the beneficiary are higher for Medicare services.