Compare And Contrast Healthcare And Medicare

Medicaid is administered by the individual states, so regulations and eligibility requirements vary from state to state and are only accepted at participating providers. Medicare is a government funded program also paid by the taxpayer. It provides health insurance to the elderly and disabled community. Multi-payer is a health care system which health care costs are paid for by multiple entities through public and private contributions. Multi payer health care relies mainly on the on the financial capability of the policy holder or beneficiary. Some people are disqualified from having this type of plan. For example, if someone has a pre-existing condition or, if there is a loss of a job or change in jobs. This can result in a person’s health care being affected. Whereas, a single payer health care system, this is a system where a single entity pays the costs of health care, mainly the government. This would allow the beneficiary or person to freely choose where they can get their health care. There would not be a financial barrier or lifetime limits or pre conditions that would affect health care (Alex, Rich).

Medicare and Medicaid are programs that have been developed to assist Americans in attainment of quality health care. Both programs were established in 1965 and are federally supported to provide health care coverage to vulnerable populations such as the elderly, the disabled, and people with low incomes. Both Medicare and Medicaid are federally mandated and determine coverage under each program; both are run by the Centers for Medicare & Medicaid Services, a federal agency ("What is Medicare? What is Medicaid?” 2008).

Medicaid and Medicare are two programs that are very different but share the same instance of being federally run programs. Both Medicaid and Medicare were created in 1965 in response to the fact that older and lower income people could not buy private insurance. Medicaid is dispersed individually by each state in which is primary role is to cover low income people who do not have the financial means to purchase healthcare on their own. On the other hand Medicare is paid into by everyone that works a legal job where taxes are deducted. Medicare was created to address the issues of elderly; typically people 65 years or older; having extremely high healthcare bills but limited personal funding. These people will typically pay part of the cost

Medicaid is program that provides health insurance coverage for people with low incomes, including pregnant women with little or no income, also children under the age of 19 are eligible for Medicaid (Research Starters). So for example, a person that is financially independent would not qualify for Medicaid. “Medicare benefits can be as early as age 62, or even earlier in the case of serious disability covered by Social Security” (Reuters). Medicare only requires a person to be over the age of 62 or to be dependent on someone else to qualify for their healthcare benefits. To conclude, Medicaid goes more toward younger low-income communities, while Medicare leans more toward older

Medicare, one of the greatest purchasing clients in the medication industry, is not lawfully allowed to bargain first hand with companies for lower medication costs or best possible price. (Kounang, 2015)

Medicaid, Medicare, and CHIP’s healthcare coverage is usually used in the typical American household. Though they serve different people they all have the same goal: To provide health coverage for lower costs and better care. They all have many ways they are funded. Medicare is funded through taxes, trust funds, premiums from members of Part A,B, and D, and funds from Congress. Medicaid and CHIP is funded by the government. The federal government pays states for a specific percentage of program expenditures or costs for a specific group. The percentage for Medicaid is 15% higher than CHIP’s. If you want to be a member of medicaid, you have to have a limited income, be 65 or older, a child under 19, be pregnant, be living with a disability,

On July 30, 1965, President Lyndon B. Johnson signed into law the bill that led to the establishment of Medicare and Medicaid. Medicaid is a social protection program that was enacted to provide medical assistance to United States citizens who meet certain eligibility requirements and is jointly operated by the Federal and State government. Although each state is responsible for operating its own Medicaid system, it must comply with established Federal guidelines in order to receive matching funds.

We all have this confusion between Medicaid and Medicare some people don’t know the difference between the two or don’t even know what either of them are. The Federal government has two different programs to provide health insurance coverage to citizens in the United States, which are Medicare and Medicaid. The two programs, while helpful to those individuals who qualify, are not available to everyone. I’m here to briefly explain and discuss the two programs, their similarities, and their differences and hopefully get people to understand each program. This become important in our lives because once we reach the age limit of where we can’t provide or take care of our illnesses these programs come into play on your health care options. This topic I choose has a big connection into our class because this is something we need to be aware of when it our time to retire and know that we have some type of insurance to support with our health. Once we get to the age where we can pay for things we need the Medicare or Medicaid program to help us get the care that we worked hard for and most importantly deserve.

Comparison and Contrast of Medicare and Medicaid On July 30, 1965, President Lyndon B. Johnson signed amendments to the Social Security Act creating two government-run programs: Medicare and Medicaid. Medicare and Medicaid were created in the hopes of insuring individuals that aren’t eligible for private insurance. Additionally, it was established to accommodate personal and medical needs of individuals that cannot afford other insurances. Considering their names are extremely similar, many people assume they are the same programs when in actuality, they are completely different. (Although, there are some similarities between them).

Medicare is a social insurance program that is sponsored by the government (1). This was originally made for the long term care for the elderly people that needed health insurance (2). There are four different parts that are provided to the people that are eligible for Medicare. Part A helps pay for the hospitals. As Part B pays for all medical reasons; such as, physician visits, outpatient services, and the need for medical equipment. Part C, for example, deals with the care of people with diabetes, and Part D is to provide people with prescription drugs (1).

Medicare, enacted on 1965 is a government funded health insurance program which covers the elderly, the disabled and people with end stage renal diseases. With Medicare covering specifically the elderly and the disabled, the cost is usually on the higher side. Medicare has been in action since the last 50 years. Many even approve of expanding Medicare instead of ACA, as Medicare is government funded while ACA has much commercial involvement. Medicare is heavily subsidized and is universally

The Medicaid program is a federal health insurance program for the under-privileged and incapacitated. The plan is managed by states within comprehensive limits instituted by the federal government. Together the federal and state governments finance the program, with the federal share ranging from 50 percent to 74 percent. Now Medicaid currently makes up 7 percent of the federal budget and 23.7 percent of all state expenses. Approximately sixty million people are enrolled in the Medicaid program and 400 million is spent annually.

Medicare and Medicaid are two of the United States largest broken systems, which must sustain themselves in order to provide care to their beneficiaries. Both Medicare and Medicaid are funding by a joint effort between the federal government and the local state government. If and when these governments choose to cut funding or reduce spending, Medicare and Medicaid take the biggest hit. Most people see these two benefits as one in the same, two benefits the government takes out of their pay check to help fund health care. While the government does deduct a sum from paychecks everywhere, Medicare and Medicaid are very two very different programs.

Medicare is a federal program that was created to serve people who are over the age of 65 and don’t have private insurance. There is no financial requirement for Medicare; it is public health insurance offered to anyone over the age of 65. Medicaid is different because it a state and federal program; and there is also the financial aspect to it. In order to be eligible for Medicaid a person must have a low monthly income to receive the subsidized health care plans. A person can be eligible for both and those people receive dual eligibility according to Medicare Interactive (2017). These two programs have served the people in need for over 50 years and the creation of Obamacare has directly affected these programs.

Medicaid and Medicare both play important parts in paying for health care for seniors. They are, however, very different. There are many details, but here are three big differences.