What is Medicare and Medicaid?

What is Medicare and Medicaid?

Medicare and Medicaid are two very substantial government-run healthcare programs which you have no doubt heard of before.

Medicare website — Found Here | Medicaid website — Found Here

Medicare is the federal program available to people over age 65, while Medicaid is a federally subsidized state program that provides care to lower-income families. Medicare is a government insurance program created to help retirees and the disabled.

At age 65, you are automatically enrolled in the program, but it’s important to give yourself a firm understanding of Medicare in order to take advantage of its benefits. Many people find that it is advantageous to purchase Medicare Supplement policies (found here).

Medicaid is a state-run program that provides healthcare services to lower-income families. The government funds these programs with payroll taxes and, now, Medicare surtax to wealthier taxpayers.

See the articles within this sub-topic for more information.

What are Medicare Benefits?
What does Medicaid cover?
Should I Buy a Long-Term Care Policy?