Medicare vs. Medicaid

Medicare (What is it?): Administered by the US federal government, Medicare is a national social insurance program, that has been implemented since 1966. About 30 private insurance companies provide health insurance for Americans who are 65 and older. These individuals have worked and paid into the system since their first job. Medicare also provides health insurance for younger people who have disabilities, end stage renal disease, and amyotropic lateral sclerosis. Medicare covers about half of the health care charges of those who qualify and are enrolled in the Medicare program. The rest of the approved charges have to be paid in either with forms of out of pocket coverages. Such out of pocket coverages vary on a case by case bases depending on the amount of health care the patient needs. Long term, dental, hearing, and vision care are uncovered services of Medicare. 

Medicaid(What is it?) : The Health Insurance Association of America (HIAA) describes Medicaid as a 'government insurance program for people of all ages whose income and resources are insufficient to pay for health care.' It other words, it is a social health care program for families and individuals who have low income as well as limited resources. Medicaid is funded by both the state and federal government, and as of today it is the largest source of funding for medical and health-related services. The states-which manage the funding from the state and federal government- decide who is eligible for the program. These individuals must be US citizens or legal permanent residents. Adults, children, and individuals with certain disabilities are included in this criteria. (Poverty alone does not qualify individuals for Medicaid)

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