Medicaid vs Medicare

Just what IS Medicaid and how does it differ from Medicare?

People are always confused as the two terms are nearly alike but they are totally different... the funding sources, what they cover, and mostly the eligibility differs immensely.

This is a very brief primer, then you can do a Google search at the bottom of this page for specific information based on where you live.

Medicare is the Federally funded health care program for anyone over age 65 (and those who get disability benefits from Social Security).

Medicaid is for low income folks who need assistance with medical services... mostly nursing care.

Medicaid is coordinated by the state you live in -- so income limits differ in each state. You can usually keep a home and assets to a certain limit, but must also meet income limits too. Medicaid rules are very complex.

Medicare does not pay for long-term nursing home care, so Medicaid usually steps in when you finally hit the income guidelines.

To find the eligibility guidelines for your state, search Google below. I entered:

-- just change to your own state and read more about eligibility for this option.

Medicare... More Retirement Advice...

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