What is the difference between Medicare and Medicaid?Published On: Wednesday, February 07, 2018
Medicare is a health insurance program operated by the federal government that is funded from of Social Security payroll deductions and tax contributions. Anyone 65 or older who has made Social Security contributions is entitled to Medicare benefits.
In addition to providing a medical insurance program to senior citizens, Medicare also provides beneifts for individuals under the age of 65 who have disabilities and have been eligible for Social Security disability benefits for at least two years.
In contrast, Medicaid is a need-based program that is funded jointly with funds from both the states and the federal government. It is designed to help pay for medical care for people receiving public assistance benefits and individuals who need home care or nursing home care. While Medicaid recipients can receive also Medicare benefits, the Medicaid program is not related to the Medicare program.
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