Medicare and Medicaid are health insurance programs funded by the government. Though there are some similarities between the two, they also have a few major differences. If you’re unsure which program you might be eligible for—or want to apply for both—an attorney can help. To prepare you, here is what you should know about Medicare and Medicaid. 

When & Why These Programs Were Established

Both programs were created in 1965. President Lyndon Johnson signed off on the bill that would lead to their development as part of his “Great Society” vision. These programs were ultimately established in response to the struggle that many Americans faced when it came to getting adequate medical care. 

Medicare and Medicaid are two distinct programs. Medicare is funded at the federal level and provides health insurance for those who are over 65 or have a severe disability. Medicaid, on the other hand, is an income-based program that operates at the state level.

How You Can Make the Most of Their Benefits

To prevent people from abusing the system, both Medicare and Medicaid have strict eligibility requirements. Unfortunately, those who exceed the income or asset requirements may still be unable to afford adequate health insurance coverage. That’s why elder law attorneys often assist clients with Medicaid planning to make you eligible for benefits. It typically involves restructuring your finances and may require the creation of trusts.

If you need help securing government benefits, turn to the Law Offices of Neil T Nakamura & Associates. Practicing out of Honolulu, this firm has provided strategic legal advice for more than 43 years. Since their attorneys limit their areas of focus, they offer the most up-to-date counsel possible. Whether you need help with estate planning, probate, trust administration, elder law, or Medicaid, you can count on their lawyers for experienced guidance. To request a free initial consultation with an attorney on their team, fill out the form on their website or call (808) 945-7645.