It’s common for people to get Medicare and Medicaid mixed up. The healthcare industry is confusing and complicated, and few people accurately understand how it all works.
If you’re trying to determine whether you qualify for Medicare and Medicaid, it’s essential to know what they mean and who they cover. To help you understand, this is the difference between Medicare and Medicaid.
What Is Medicaid?
Medicaid is a health insurance program offered through the government. Low-income Americans can qualify for Medicaid with a private insurance company or through the state. But even if you enroll with a private insurance company, you must register through the government site and get your required MBI number. An MBI number is used to identify you and file claims. If you are unsure as to whether you have one or not, you can use an MBI lookup tool to see if you have already been issued a number.
Generally, you can qualify if your income falls below 100% of the federal poverty line. To be eligible for Medicaid as a household of one, you have to earn $12,880 or less. For households of 4, it’s $26,500.
The good news is that the Affordable Care Act expands those who can qualify to those making 138% of the federal poverty line. In other words, it increased the qualifications for a one-person household to $17,609.
If you’re pregnant or disabled, there are exceptions that may allow you to qualify.
What Is Medicare?
Medicare is also a health insurance program offered through the government. It’s a program available to people once they’re 65 years old. However, they’re exceptions for people younger than 65.
For example, younger people who have certain diseases, like Lou Gehrig’s Disease, can qualify.
There are several types of Medicare plans to choose from. This includes hospital coverage, outpatient coverage, and prescription drug coverage. There is also Medicare Advantage which provides supplemental healthcare benefits like vision, dental, and transportation to doctor’s appointments.
You can learn more about Medicare plans through Medicare Health Experts.
The Main Difference Between Medicare and Medicaid
The main difference between Medicare and Medicaid is that Medicaid is dependent on your income, and Medicare is dependent on your age.
Medicare also doesn’t include family plans, whereas Medicaid does and can cover dependents. Like other insurance companies, there is also an open enrollment period for Medicare, and there isn’t one for Medicaid. This means that for Medicaid, you can sign up at any time.
Medicare also provides multiple types of plans and coverages, and Medicaid only has one plan.
Now You Know How to Differentiate Between Medicare and Medicaid
Though there is some overlap, the main difference between Medicare and Medicaid is the demographic of those covered.
Though some people can qualify for both, most people will be eligible for one or the other. If you have any questions about which health coverage is best for you, you can visit the Medicaid and Medicare homepages and contact a representative. They can let you know which plans you may qualify for.
So, don’t wait any longer. Get your healthcare covered today!
And for more helpful information, please check out the rest of our blog. We have a bunch of other great articles that you’ll love!
