Drawing Distinctions Between Medicare and Medicaid

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Drawing DistinctionsBetween Medicare Medicaid
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Government Health Insurance Programs
Medicaid and Medicare are two different
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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You should have an understanding of these
differences when you are planning ahead for your
retirement years
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Medicare for the Eligible
While you are working you are paying taxes. One
of the deductions goes toward future Medicare
coverage
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Your eligibility for Medicare has nothing to do
with your financial need or lack thereof
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If you paid enough into the program over the
years you become eligible for coverage at the age
of 65
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Medicare Doesn't Cover Everything in Full
You are required to share most expenses under
Medicare
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When you are budgeting for your senior years you
should understand the fact that Medicare doesn't
pay for everything in full
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There are copayments for hospital stays. And,
there are monthly Medicare Part B premiums
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Perhaps most importantly, Medicare does not pay
for long-term care
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Medicaid
Medicaid is a need-based health insurance program
that is subsidized by the government
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It is jointly administered by individual states
along with the federal government
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The upper asset limit that you must stay within
to obtain Medicaid eligibility is just 2,000
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Medicaid Long-Term Care
We have established the fact that Medicare will
not help with long-term care costs
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However, Medicaid will assist if you can stay
within this 2,000 upper asset limit
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You may be surprised to hear that most seniors
in nursing homes are enrolled in the Medicaid
program
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Gaining Medicaid Eligibility
You can aim toward Medicaid eligibility in an
intelligent and informed manner
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It may be possible to divest yourself of assets
well in advance of applying for Medicaid coverage
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If you do things properly you may be able to gain
eligibility while keeping a significant store of
resources in the family
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Oklahoma Medicaid Planning Assistance
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Medicaid can provide a long-term care solution
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With the assistance of a licensed professional
you can position your assets optimally for the
well-being of those that you love
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To Learn More Receive a FREE Report
Entitled, Set The Stage for Medicaid
Eligibility (A 19.95 Value!) CLICK HERE OR Call
405-562-9609 Today
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13913 Quail Pointe Drive, Ste B Oklahoma City, OK
73134 Phone [phone] Nall Avenue,
Suite 160 Overland Park, KS 66211 Phone (913)
385-9400