Compare and Contrast Medicaid and Medicare

Topics: Health insurance, Health care, Medicaid Pages: 3 (810 words) Published: August 19, 2012
Medicare VS Medicaid

Medicaid vs. Medicare
Leah Pierce
Rasmussen College

Author Note
This paper is being submitted on July 29, 2012 for Carol Taylor’s M230 Medical Law and Ethics course.

Medicaid vs. Medicare
Medicaid and Medicare are two different government programs. Both programs were created in 1965 to help older and low-income families be able to buy their own private health insurance. These programs were part of President Lyndon Johnson’s “Great Society” plan—a commitment to helping meet the needs of individual health care. They are social insurance programs, which allow the financial load of patient’s illnesses to be shared by other healthy, sick, wealthy, and lower income individuals and families. Medicaid

Medicaid insurance covers approximately 60 million Americans, according to their income. Medicaid is larger than any other single private health insurance program. The criteria for participating would include those who are unable to work due to disabilities, anyone who receives Aid to Families with Dependent Children (AFDC), as well as single, pregnant women who fall below the Federal Poverty Level (FPL). In 2011, the FPL for a family of four was set at $22,350. This amount is updated yearly. Medicaid also helps those who are part of the Supplemental Social Security Income (SSI) program (Mann, 2012). Funding for Medicaid comes from the government as well as each state’s department of SSI. They are also responsible for administering funds. Medicare

Medicare is a federal government program that offers individual health care insurance to those who are 65 or older, and/or have a disability, no matter what their income level. Taxes that are deducted from one’s payroll helps pay for the Medicare program. The Medicare program has four parts; Parts A, B, C, and D. Part A is the original program for hospitalization and requires no monthly premium to be paid. Some physicians do not accept Medicare patients because of low payout rates, longer...
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