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Medicare Facts

Medicare is a standard federal healthcare insurance program specifically designed for people who are more than 65 years old. This program also covers some people with an end stage renal disease or disability. Medicare can easily pay for most of your minor and major health concerns, with certain exceptions.

In most cases, these costs include home healthcare expenses, and out of pocket costs. Some examples of out of pocket costs include co-insurance, deductibles and co-payments. All these elements are called Gaps in the Medicare plan coverage.

A lot of people are confused between Medicare and Medicaid. It is important to understand that they are very different programs. As mentioned earlier, Medicare is a standard federal program. It comes with Social Security. This federal program is available to every United States citizen who is over 65 years old. In addition to this, Medicare also covers people who are suffering from some disabilities. Most importantly, it does not consider your income.

On the other hand, Medicaid is a joint venture. It is part federal program, and part state program. It has been specifically designed for low income families and individuals. Medicaid can cover the costs related to proper, long term, medical custodial care. Medicaid comes with some strict eligibility requirements. Moreover, there are also some income restrictions.

There are also some other key differences. Medicaid has been designed for people with low income, and children who are below the age of 19. Medicaid even covers expectant women, people who require nursing care, and people who are likely to be impaired or/and blinded.

On the other hand, Medicare is just aimed at people who are more than 65 years old. It is also aimed at people who are suffering from end stage kidney disease or kidney failure. In addition to this, it also covers people who are permanently disabled.

The standard application process for Medicaid filing is conducted through the State Medicaid Agency. A lot more information can be obtained regarding Medicaid. It is easily available when you consult the local Social Security Office. There are many people who are eligible for both Medicare and Medicaid. This is called dual eligibility. For these people, Medicaid can pay for Medicare premiums.

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