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Medicare and Medicaid differences explained

Medicare and Medicaid are two public healthcare options that serve populations in the United States, but what are the differences?

medicare or medicaid health insurance card

Both services help 135 million Americans.

Medicare is funded by the government while Medicaid is funded through federal and state budgets on a state by state basis.

11 million Americans are eligible for both programs.

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Social Security & Medicare, signing up for both

Medicare explained

Medicare started in 1966 to help seniors with no healthcare, according to AS.

You may collect Medicare once you reach age 65, there are no income requirements.

Over the years those with disabilities became eligible for the program.

64 million people use the program.

54 million are over 65 and the rest are people with disabilities.

Medicare is broken into parts

  • Part A, hospital stay
  • Part B, hospital stay
  • Parts C, dental, vision, hearing, etc.
  • Part D, prescription medication

Parts A and B come directly out of Social Security checks.

Medicaid explained

Federal and state governments run Medicaid.

It provides healthcare to low income residents.

78 million people including 33 million children are in the program.

All states offer the program.

Those who also qualify include the following

  • low income kids
  • pregnant women
  • parents of children
  • elderly
  • people with disabilities

Millions of Americans lost their income during the pandemic, becoming eligible for Medicaid.

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