If you’ve ever confused Medicare with Medicaid, you’re not alone. The two programs sound similar, but they’re quite different. Here’s what you should know about both of them and how to qualify. 

Medicare

What Is It?

Medicare is a health insurance program that’s available in four different parts: Part A, Part B, Part C, and Part D. Part A helps cover inpatient services, such as hospital care, hospice care, and skilled nursing facility care. Part B helps cover outpatient services, such as annual checkups and vaccinations, as well as outpatient medical equipment, including walkers and wheelchairs. Part C is a bundled plan that includes Part A, Part B, and, often, Part D coverage, which helps cover the cost of prescription drugs. 

How to Qualify

To qualify for Medicare, you must be a citizen or permanent resident of the United States who has difficulty paying for medical care. Also, in most cases, you must be 65 or older. If you’re younger than 65, you may still qualify if you have Lou Gehrig’s disease, end-stage renal disease (ESRD), or a permanent disability. You may also be eligible for the program if you’re a widow or widower who’s 50 or older and eligible for the Social Security Disability program, or if you’re the child of someone who paid Medicare taxes while working at a government job for a certain period of time.

Medicaid

What Is It?

Medicaid is a health insurance program that helps cover the medical expenses of people from low-income households. While Medicare sometimes requires monthly premiums, most people with Medicaid don’t have to pay anything for covered services. Covered services usually include hospital care, doctor visits, preventive care, mental health care, prenatal and maternity care, and necessary medications.

How to Qualify

To qualify for Medicaid, you must be a citizen of the United States or have qualified immigration status. Your eligibility will be based on your income, family size, and state. In Kentucky, for example, your annual household income must be lower than $16,971 for an individual, $34,846 for a family of four, and $46,763 for a family of six. In addition, you must either live with a disability or live with a disabled family member, be pregnant, or be responsible for a child who’s 18 or younger.

If you’re curious about whether you qualify for Medicare, turn to the team at Toohey Insurance Service. Based in Somerset, KY, these insurance agents will help you determine your eligibility and find a plan that meets all of your needs. With over 35 years of experience, they’re dedicated to getting you the health insurance you deserve. Learn more about their services online, and call (606) 678-0540 to schedule a consultation.