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Healthcare Vs Medicare Essay

704 Words3 Pages

Medicaid vs. Medicare
Ashley Reyes
Managed Care

In 1965 both Medicaid and Medicare health insurance plans were established by the government. Both programs are government sponsored and are created to help cover healthcare cost. Individuals often confuse what both programs cover and what the purposes of the programs are. Both programs are funded through taxes, however have different eligibility requirements.
Medicare is an insurance program that covers senior’s ages sixty five and older and disabled individuals who qualify for Social Security. Medicare is available to individuals regardless of income. According to an online source the benefits under Medicare come in four parts. Some parts require some payments of a monthly premium which is similar to what a private health insurance would require, but this program is not based on financial need. (Smith) The four parts of Medicaid are recognized as Part A, Part B, Part C and Part D. Part A, of Medicare is Hospital care, which covers the stay at the medical facility. Part B, covers doctors, medical tests and procedures, that are done while at the medical facility. However, Part B does have a monthly premium for coverage. Part C is Medicare Advantage which is an alternative to traditional Medicare coverage. According to an online source the coverage for Part C includes Parts A, B, and D. …show more content…

In order to qualify for the program an individual cannot hold more than $2,000 in liquid assets. Married couples are entitled to hold $3,000. Some assets are not counted towards the total such as a home, car, personal effects, home furnishings and household goods. (Medicaid vs. Medicare (Medicaid vs Medicare) ) Individuals who have more than the acceptable amount of assets have to “spend down” until they reach an income level that qualifies them for Medicaid. (Medicaid vs. Medicare (Medicaid vs Medicare)

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