Original Medicare and Medicaid are both government-run health coverage programs. But they differ in terms of eligibility, benefits, funding, and administration. Original Medicare is funded and regulated by the federal government, while Medicaid is funded and regulated jointly by the federal government and participating state governments. Original Medicare covers individuals 65 years old and older or those who have a qualifying disability for which they receive benefits, including ALS or ESRD. Medicare Part A and Medicare Part B benefits are standardized nationwide. Medicare Advantage plans can include additional benefits as long as they meet federal guidelines. Original Medicare is funded by payroll taxes, general revenue, and premiums that beneficiaries pay. There is no income limit for Medicare eligibility, although Original Medicare beneficiaries with higher incomes may pay higher premiums for Medicare Part B and Medicare Part D prescription drug plans. Medicaid, on the other hand, is geared toward people with low incomes and other eligible groups. Medicaid programs are run by each state and funding is provided jointly by the state and federal governments. So, states have some flexibility in terms of eligibility rules and the benefits that are provided. Federal law requires states to cover at a minimum eligible children, pregnant women, very low-income parents, and people who are elderly, blind, or disabled. But the majority of the states have adopted Medicaid expansion as part of the Affordable Care Act, which means they also provide Medicaid coverage to low-income adults, even if they don’t have children. Medicaid benefits also vary from state to state; there are federal minimum requirements, but states can choose to provide additional benefits.
Medicare vs Medicaid: What’s the difference between Medicare and Original Medicaid?Original Medicare and Medicaid are both government-run health coverage programs. But they differ in terms of eligibility, benefits, funding, and administration. Original Medicare is funded and regulated by the federal government, while Medicaid is funded and regulated jointly by the federal government and participating state governments. Original Medicare covers individuals 65 years old and older or those who have a qualifying disability for which they receive benefits, including ALS or ESRD. Medicare Part A and Medicare Part B benefits are standardized nationwide. Medicare Advantage plans can include additional benefits as long as they meet federal guidelines. Original Medicare is funded by payroll taxes, general revenue, and premiums that beneficiaries pay. There is no income limit for Medicare eligibility, although Original Medicare beneficiaries with higher incomes may pay higher premiums for Medicare Part B and Medicare Part D prescription drug plans. Medicaid, on the other hand, is geared toward people with low incomes and other eligible groups. Medicaid programs are run by each state and funding is provided jointly by the state and federal governments. So, states have some flexibility in terms of eligibility rules and the benefits that are provided. Federal law requires states to cover at a minimum eligible children, pregnant women, very low-income parents, and people who are elderly, blind, or disabled. But the majority of the states have adopted Medicaid expansion as part of the Affordable Care Act, which means they also provide Medicaid coverage to low-income adults, even if they don’t have children. Medicaid benefits also vary from state to state; there are federal minimum requirements, but states can choose to provide additional benefits.