What are the Differences Between Medicare and Medicaid in North Carolina?

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WHAT ARE THE DIFFERENCES BETWEEN
MEDICARE AND MEDICAID IN NORTH CAROLINA?
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GOVERNMENT HEALTH INSURANCE PROGRAMS
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Medicare and Medicaid are both government health
insurance programs
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They have similar sounding names, but there are
some profound differences between them
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QUALIFYING FOR MEDICARE
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• Medicare is primarily
• for senior citizens

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You qualify for Medicare by earning retirement
credits while you are working and paying taxes
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NO ASSET LIMITS
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• If you have accumulated
• at least 40 retirement credits,
• you qualify for Medicare coverage

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There are no asset limits
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As long as you have 40 retirement credits you
qualify for Medicare, regardless of the extent of
your wealth
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MEDICAID A NEED-BASED PROGRAM
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You do not have to earn retirement credits to
qualify for Medicaid
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• Medicaid is a need-based government health
  insurance program

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You cannot qualify if your assets exceed program
limits
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LONG-TERM CARE
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• A major difference exists
• between Medicare and Medicaid when it comes to
  long-term care costs

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Medicare will not pay for long-term
care Medicaid will assist with nursing home and
assisted living expenses
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Medicare will not pay for long-term
care Medicaid will assist with long-term nursing
home and assisted living expenses
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MEDICAID PLANNING
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• Long-term care is very expensive

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Because Medicare won't pay for living assistance,
many people seek Medicaid eligibility late in
their lives
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It may be possible to gain eligibility while
retaining assets for the benefit of your loved
ones if you plan ahead effectively
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FREE CHARLOTTE NC MEDICAID PLANNING CONSULTATION
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• If you are concerned about
• long-term care costs,
• contact our firm to learn
• more about Medicaid planning

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• The Potter Law Firm
• 15720 John J. Delaney Drive, Suite 300
• Charlotte, NC 28277
• [phone]
• www.PotterEstatePlanning.com