Comparing the Costs and Benefits of Medicare and Medicaid

Medicare is a federal health insurance program that provides coverage to people who are 65 or older, as well as those with certain disabilities or end-stage renal disease.

Medicaid is a joint federal and state program that provides health coverage to people with low income and limited resources.

Medicare covers a wide range of services, including hospital stays, doctor visits, and prescription drugs. It also covers certain preventive services, such as mammograms and flu shots.

Medicaid covers a variety of services, including doctor visits, hospital stays, and long-term care. It also covers certain preventive services, such as immunizations and cancer screenings.

Medicare is funded through payroll taxes and premiums paid by beneficiaries, while Medicaid is jointly funded by the federal government and individual states. Medicaid beneficiaries may have to pay certain costs, such as copayments and deductibles, while many Medicare beneficiaries do not have to pay premiums for Part A coverage.

Medicare provides access to affordable health care services for millions of Americans, including seniors and people with disabilities. It also helps to reduce the financial burden of health care costs on individuals and families.

Medicaid provides access to health care services for people with low income who may not be able to afford health insurance. It also helps to reduce the financial burden of health care costs on individuals and families.

Medicare and Medicaid work together to provide health coverage to people with low income and limited resources who are also eligible for Medicare. This program is known as the Medicare Savings Program.