Both Medicare and Medicaid are both health care programs sponsored by the government, many people mistake the two for being the same.  This is of course, not the case.  Medicare is a federal health care plan that is available to enrollees over 65 years of age.  Medicaid is a jointly funded health care program that is funded at both the state and federal level and is intended to supplement a need for coverage in lower-income families and individuals.

Medicare/Medigap Supplemental Insurance  

As stated earlier, Medicare is a program that supplies health insurance to individuals who have attained 65 years of age.  Qualification for Medicare comes when a participant or their spouse has worked at least ten years and paid Medicare taxes.

Medicare covers the basic health care needs of enrollees.  Medicare breaks down into multiple parts: Original Medicare (Part A and Part B), Medicare Advantages, Medicare Supplemental Insurance Plans, and Medicare Part D, prescription drug coverage.  Medicare Part A and Part B cover most health insurance needs.  Voids and gaps in coverage are filled with the purchase of additional coverage in the form of Medigap Plans A – Z.

It is important to note that Medicare/Medigap do not cover vision, dental, or hearing.  Coverage for the services will need to be purchased separately from any Medicare or Medigap policies.

Medicaid

Medicaid aids low-income families and individuals with health care assistance.  Coverage is funded through both the state and federal government and is available to people of all ages.  The requirements that are needed to qualify for Medicare vary greatly depending on where you live.  Medicaid is eligible for Medicaid if they meet certain requirements such as passing a necessity test, an asset test, and an income test.

Medicaid offers additional coverage that Medicare does not such as dental coverage, vision, and hearing care.  Medicaid also covers prescription drugs without having to add additional coverage.  To check availability in your state, check out the Medicaid website.

Differences Between the Two

The biggest difference between Medicaid and Medicare don’t stop at funding.   Coverage between the two vary a great deal as you can see from above. Medicare doesn’t offer coverage for dental, vision, or hearing. Medicare doesn’t have financial limits on who qualifies and who doesn’t.  It is possible to have dual-eligibility.  This means that a participant is over 65 and has met the financial or medical eligibility requirements associated with enrollment in Medicaid.

The experts at eMedicare Supplemental Insurance, powered by Omega, have all the answers you are looking for when it comes to your Medicare Supplemental Insurance needs.  More information can be found at http://emedicare-supplemental-insurance.com/.