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.

 

Related Content

Your Social Security Roadmap

Your Social Security Roadmap

Help clients navigate their Social Security claiming decisions with our interactive roadmap.

When Does Your Personal Car Become a Commercial Vehicle?

When Does Your Personal Car Become a Commercial Vehicle?

At what point can you call a personal vehicle commercial?

Making a Charitable Contribution

Making a Charitable Contribution

There are benefits and limitations when you decide to donate stock.

 

Have A Question About This Topic?







Thank you! Oops!

What Is a 1035 Exchange?

1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability.

Succeeding at Business Succession

There are a number of reasons for business owners to consider a business succession plan sooner rather than later.

What's So Great About a Rollover?

Making a career move requires tough decisions, not the least of which is what to do with the funds in your retirement plan.

View all articles

How Long Will My Savings Last If I Become Disabled?

See how long your current savings might last if a disability interrupted your income.

Social Security Tax Estimator

Estimate how much of your Social Security benefit may be subject to federal income tax.

Long-Term-Care Needs

Estimate potential long-term care costs and what coverage may help address them.

View all calculators

Charitable Giving: Smart from the Heart

Do you have causes that you want to support with donations?

Dog Bites and Homeowners Insurance

Reviewing coverage options is just one thing responsible pet parents can do to help look out for their dogs.

The Rule of 72

Do you know how long it may take for your investments to double in value? The Rule of 72 is a quick way to figure it out.

View all videos