Medicare and Medicaid are both government-sponsored health insurance programs, but they are not the same thing. While they share some similarities, there are also some key differences between the two programs.

Let’s explore those differences and help you understand which program might be right for you.

Medicare is a federal health insurance program that is available to all U.S. citizens and permanent residents who are 65 years or older, as well as certain people with disabilities and those with end-stage renal disease. It covers hospital care, doctor visits, prescription drugs, rehabilitative services, home health care services, and other medical needs.  

Medicaid, on the other hand, is a state and federal program that provides health coverage to low-income individuals and families. Unlike Medicare, Medicaid eligibility is based mainly on income and financial resources. It covers doctor visits, hospital care, long-term care services such as nursing home care, preventive screenings, family planning services, and more.

Another key difference between the two programs is how they are funded. Medicare is primarily funded through payroll taxes and premiums, while Medicaid is jointly funded by federal and state governments, with states determining their respective eligibility criteria.  

Finally, Medicare has no income limits while Medicaid does. As a result, individuals who make too much money to qualify for Medicaid may still be eligible for Medicare. 

Ultimately, the best way to determine which program is right for you is to look at your individual needs and circumstances and see what each program can offer. You can also speak with a professional like Deborah Hilgerman for information about eligibility requirements and coverage options. 

Hilgerman Insurance Solutions of Camarillo is an independent insurance agency that specializes in the senior market, while offering health insurance solutions for small businesses and individuals. We are contracted with most of the top insurance providers to offer you plans that best suit your needs, all with personal hands-on service and support.  

Our commitment is to provide expertise, friendly service along with a timely response. Please feel free to contact us today for a quote and/or no cost consultation.   

Hilgerman Insurance Solutions
(805) 301-9960
deb@hilgermanins.com  
www.HilgermanIns.com