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Compare And Contrast Medicaid And Medicare

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1. Medicaid and Medicare are both federal programs that provides health coverage. Medicaid is generally intended for low-income individuals and families who do not have the finances to afford healthcare. Age is not an eligibility requirement for Medicaid. Some benefits that Medicaid offers that Medicare doesn’t include routine dental and routine vision services and hearing aids. Unlike Medicare, Medicaid generally has no federally-set premiums, deductibles, or coinsurance. States have the option to charge premiums and set cost sharing requirements for Medicaid enrollees. Medicaid is funded jointly by the federal government and individual states. In 2002, the federal government paid 57% of Medicaid and states paid the remainder.

Medicare requirements …show more content…

However, younger people may qualify if they have received 24 consecutive months of Social Security disability benefits, along with other specific requirements. There are four parts to Medicare’s benefits. Original Medicare includes Part A and Part B. Part A generally covers hospital care and hospice care, and Part B (Original Medicare) covers services such as medical care, durable medical equipment, and supplies, and some preventative services. Part A is funded primarily through a dedicated payroll tax paid by employers and their employees, while Part B is financed through a combination of general revenues, premiums paid by beneficiaries, and interest. The third form is Medicare Advantage, or Medicare Part C. Medicare Advantage combines Part A (hospital insurance) and Part B …show more content…

A Death Spiral is a condition of the insurance market in which costs rapidly increase as a result of changes in the covered population. It begins when an insurance company groups people based on how healthy or sick they are. After a group’s enrollment is closed, certain members will become increasingly sick over time. This forces premiums and other costs for the entire group to go up. Then, the healthy members of the group leave the group in order to seek cheaper prices in a new group or become uninsured. Only the most unhealthy people remain as the cycle continues and the insurance eventually becomes unaffordable. Finally, the group expires and these very unhealthy people cannot qualify for any new insurance program, or the premiums would be too expensive. At this point, there is no distribution of costs or risks as there would have been under a pooled-risk insurance

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Medicare pays 80% of Medicare beneficiaries medical expenses through Hospital Part A and Medical Part B and the beneficiary is responsible for the remaining 20%. The beneficiary then has the option to take part C which is supplemental private insurance to cover the 20% that Medicare doesn't cover. The final portion of Medicare is Part D prescriptions, which is mandatory for persons eligible for Medicare by age or disability in order to avoid the late enrollment penalty. This penalty was enacted to deter Medicare beneficiaries from opting out of prescription drug coverage to save money and later in the year be prescribed new medications and not have drug coverage, costing everyone more money in the long run. Medicare also pays up to 75% of drug costs and premiums for individuals that cannot afford their

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Medicare is a federal government administered healthcare program originally implemented on July 1, 1996. Medicare has four parts (A, B, C and D) that provide different areas and differing levels of coverage. All Medicare programs provide coverage for cover healthcare services to qualifying individuals, known as beneficiaries, which includes Social Security beneficiaries over the age 65, people under 65 with certain disabilities, and people of all ages with end-stage renal disease. Each program provides coverage for medically necessary care and services to covered beneficiaries and has deductibles or copays for covered services. Medicare Part A, Medicare Part B and Medicare Part C all provide coverage for medical services.

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It provides comprehensive health care, including hospitalization, physician services, prescription drugs, and long-term nursing home care to all who qualify as needy under TANF and SSI. Unlike Medicare, there are no limitations, an in 1986 Congress extended coverage to pregnant women and children whose earnings were less than 133% of the official poverty level. Medicaid is financed by both the national and state governments and awards more financial support to poor vs. wealthy states according to a per capita assessment. Each state sets its own eligibility standards within the boundaries of national guidelines. As for the future, the portion of the budget going to Medicaid is only increasing, which will lead to the proportion of funding for other programs being reduced unless some remedial action is

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There are aspects of Medicaid, especially for low-income populations, where it is really almost better to have instead of private coverage. In Medicaid, there are very low copays and no deductibles, but Medicaid recipients are more likely to report having difficulty finding a provider or delaying care because their health care coverage is not widely accepted.

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In addition to a medical coverage system for the elderly, the government also created Medicaid, a state and federally run system that provided medical coverage to low income americans. Medicaid had a stigma of class, since it insured people that were too poor to afford private insurance. This meant that taxpayers had to subsidize health care for people who could not have afforded private health insurance. Medicare however did not have a stigma of class because all you had to do is be over 65 years of age to be Medicare eligible. Medicare was later extended to cover the disabled and end-stage renal

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Medicaid and Medicare are both government run programs that were created in 1965, for low income and older people to get private health insurance. Although these are both government programs, they are not the same. Medicaid is health insurance that provides coverage for low income families, this is also a federal and state program. Whereas Medicare you need to be 65 or older or have a major disability and income is not a factor.

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In the United States, Medicare is the program supports people over age 65 with medical care. It also provides support for persons with certain disabilities and people of all ages who have kidney failure. Medicaid is a state administered program that provides medical support for a broad range of people. However, each state administers Medicaid individually and this creates inconsistencies in the program across the country. There are specific rules for judging just how much money someone receiving Medicaid can make and be eligible.

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An individual is eligible to receive Medicare Part C, if they have the original Medicare option. Finally, Medicare Part D coverage is for anyone who is patriciate in Medicare Part A or Part B. The concept of registering for Medicare prescription drug plan is voluntary and individuals will pay an extra monthly premium for that coverage.

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Medicaid and Medicare were signed into law in 1965. After 50 years, Medicare and Medicaid are still being used by the people of the United States as a form of aid with medical expenses. Medicare and Medicaid has changed over the years to provide more and more Americans with access to quality and affordable health care that is needed (“CMS’ program history,” 2017, p.1). Medicare and Medicaid have progressed over time to become better and more improved for those receiving the services provided by the government. Even though the Medicare and Medicaid services have changed for the better of the services, it has changed too much from the intended use of the services which has led to problems associated with the

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Because Medicare is run by the federal government, its coverage, rules and guidelines are basically the same everywhere in the United States. With this program patients pay part of the costs through deductibles for hospital stays and they are required to pay monthly premiums health care services. Medical bills are paid from trust funds which those covered have paid into. Medicare has four parts: Part A: offers

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For example this quote mention, “Medicaid paid $2.7 billion to the Medicare program on behalf of low-income Medicare beneficiaries for premium and cost-sharing obligations and spent an additional $6 billion to supplement Medicare's coverage of hospital” (Rowland 15). This quote shows the amount that medicaid has already help pay people’s medical bills and it tells that medicaid has pay a big portion of money to help people and which made most people not having to pay the full price. For another example from a website it said, “Medicare Part A- Hospital Insurance covers hospital services, including semi-private rooms, meals, general nursing, drugs as part of your inpatient treatment, and other hospital services and supplies” (The Official Government Medicare site 1). This quote shows that medicare A is something that medicare covers for you when you are sent to stay in hospitals and also treatment and medicine you get while you are there, which having medicare will help cover most of the cost and leaving in good

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It is also for qualifying individuals with a disability. Medicare has several parts that separate each program from the others. Part A which covers hospital bills, along with home health care. Part B includes things such as lab work, physical therapy, and outpatient costs. Part D covers prescription

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