Medicaid and Medicare

Medicaid and Medicare

Medicaid and Medicare are comparable in that they offer health insurance coverage to persons in the United States (Dewar, 2017; Higbea & Cline, 2019). Both programs are handled by the federal government and financed by taxpayers. Both programs also provide preventative care and treatment for specific medical issues.

The most striking similarity between Medicaid and Medicare is that both programs are designed to provide health care to those who cannot otherwise pay for it. Individuals who fulfill specific income and resource criteria and cannot obtain health insurance on their own are eligible for Medicaid. Persons aged 65 and over, as well as some disabled persons, are eligible for Medicare (Dewar, 2017; HHS, 2023; Higbea & Cline, 2019). The primary distinction between Medicaid and Medicare is who qualifies for each program. Medicaid is an income-based program, meaning people must fulfill specific income and resource criteria to be eligible. Medicare is an age-based program, meaning people must be 65 years or older or have specific impairments to be eligible.

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Furthermore, Medicaid and Medicare offer distinct forms of coverage. On the one hand, Medicaid covers various services, including hospital stays, doctor visits, medicines, mental health care, and long-term care. Conversely, Medicare covers just a limited number of services, such as hospital stays, doctor visits, outpatient treatments, and specific preventative care (Dewar, 2017; HHS, 2023; Higbea & Cline, 2019). Finally, Medicaid and Medicare are funded differently. Medicaid is supported by federal and state government money, while Medicare is paid through payroll taxes and premiums. In conclusion, although Medicaid and Medicare are both programs that offer health insurance coverage to people, they vary in terms of eligibility rules, the kinds of coverage provided, and financing sources.

References

Dewar, D. M. (2017). Essentials of Health Economics. In Google Books. Jones & Bartlett Publishers. https://www.google.coM/books/edition/Essentials_of_Health_Economics/jCvaCgAAQBAJ?hl=en&gbpv=1&dq=Dewar

HHS. (2023). FAQs Category: Medicare and Medicaid. HHS.gov. https://www.hhs.gov/answers/medicare-and-medicaid/index.html#:~:text=Medicare%20is%20federal%20health%20insurance

Higbee, R. J., & Cline, G. (2019). Government and Policy for U.S. Health Leaders. In Google Books. Jones & Bartlett Learning. https://www.google.com/books/edition/Government_and_Policy_for_U_S_Health_Lea/4bK-DwAAQBAJ?hl=en&gbpv=1&dq=

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How are Medicaid and Medicare similar? How are they different?

Medicaid and Medicare