Lindell G. Douglas, CFP®
Managing Partner

(954) 306-8668

Insurance Read Time: 2 min

Medicare vs. Medicaid

Medicare and Medicaid are two separate, government-run programs. They are operated and funded by different parts of the government and primarily serve different groups.

  • Medicare is a federal program that provides health coverage if you are 65+ or under 65 and have a disability, no matter your income.
  • Medicaid is a state and federal program that provides health coverage if you have a very low income.
  • If you are eligible for both Medicare and Medicaid (dually eligible), you can have both. They will work together to provide you with health coverage and lower your costs.

Also know that while Medicare and Medicaid are both health insurance programs administered by the government, there are differences in covered services and cost-sharing. Make sure to call 1-800-MEDICARE or contact your local Medicaid office to learn more about Medicare and Medicaid costs and coverage, especially if you are a dual-eligible.

© Medicare Rights Center. Used with permission.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

 

Related Content

Creative Ways to Motivate Your Employees

Creative Ways to Motivate Your Employees

Five creative (and inexpensive) ideas for motivating your employees.

Good Health is Good Business

Good Health is Good Business

Good employee health can be great for the company’s bottom line.

Reviewing Your Life Insurance Needs

Reviewing Your Life Insurance Needs

Learn how the review process works and how it may help you better understand your Life Insurance.

 

Have A Question About This Topic?







Thank you! Oops!

Five Most Overlooked Tax Deductions

Five overlooked tax deductions to help manage your tax bill.

Estate Management Checklist

Is your estate in order? This short quiz may help you assess your overall strategy.

Keeping Summer Safe: Pool and Spa Safety Tips

Each year hundreds of children die or are injured in pool accidents. By taking seven steps, you can keep your pool safe.

View all articles

Saving for Retirement

This calculator can help you estimate how much you may need to save for retirement.

Federal Income Tax

Use this calculator to estimate your income tax liability along with average and marginal tax rates.

Capital Gains Tax Estimator

Use this calculator to estimate your capital gains tax.

View all calculators

The Power of Compound Interest

Learn how to harness the power of compound interest for your investments.

Working With A Financial Professional

A financial professional is an invaluable resource to help you untangle the complexities of whatever life throws at you.

What You Need to Know About Social Security

Every so often, you’ll hear about Social Security benefits running out. But is there truth to the fears, or is it all hype?

View all videos