Insurance Read Time: 2 min

Medicare vs. Medicaid

Medicare and Medicaid are two separate, government-run programs. They are operated and funded by different parts of the government and primarily serve different groups.

  • Medicare is a federal program that provides health coverage if you are 65+ or under 65 and have a disability, no matter your income.
  • Medicaid is a state and federal program that provides health coverage if you have a very low income.
  • If you are eligible for both Medicare and Medicaid (dually eligible), you can have both. They will work together to provide you with health coverage and lower your costs.

Also know that while Medicare and Medicaid are both health insurance programs administered by the government, there are differences in covered services and cost-sharing. Make sure to call 1-800-MEDICARE or contact your local Medicaid office to learn more about Medicare and Medicaid costs and coverage, especially if you are a dual-eligible.

© Medicare Rights Center. Used with permission.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Share |

Have A Question About This Topic?

Thank you! Oops!
 

Related Content

The Real Cost of a Vacation Home

The Real Cost of a Vacation Home

What if instead of buying that vacation home, you invested the money?

3 Estate Challenges for Blended Families

3 Estate Challenges for Blended Families

If you’ve been re-married or divorced, these family structures may present some unique challenges. This article will help your clients with blended families think and prepare their estate strategy.

Financial Hacks for Millennials: From Side Hustle to Savings

Financial Hacks for Millennials: From Side Hustle to Savings

As of mid-2019, 45 percent of Americans have a side hustle, and that figure is only continuing to grow. In any economy, side gigs can be a great way to earn extra cash or explore new interests.