If you’re not sure what the distinction is between Medicare and Medicaid, you’re certainly not alone. While both are government programs that help pay for healthcare, the cost, benefits and eligibility requirements are often very different. Below is a summary of each programs benefits. Also, see what happens when you can qualify for both.
Medicare
Medicare is a federally funded program offered to most U.S. citizens and permanent legal residents who have lived in the country for five years or more. Participants must be age 65 or older. If under that age, you can still qualify if you’ve received 24 month of Social Security disability benefits from the Railroad Retirement Board (RRB), have permanent kidney failure and need routine dialysis (or a kidney transplant), or have Lou Gehrig’s disease (amyotrophic lateral sclerosis). Because these specifications are rare, most recipients are seniors.
Medicare Part A is a free program that covers most medically necessary services and supplies. Generally, it covers hospital care, skilled nursing and nursing home care, hospice, and home health services. To qualify, you or your spouse must have worked at least 10 years and paid Medicare payroll taxes while working.
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