6909 East Greenway Parkway
Suite 295
Scottsdale, AZ 85254

LinkedIn

Riley/Echols Wealth Management, LLC

(480) 719-1354

 
Insurance Read Time: 2 min

Medicare vs. Medicaid

Medicare and Medicaid are two separate, government-run programs. They are operated and funded by different parts of the government and primarily serve different groups.

  • Medicare is a federal program that provides health coverage if you are 65+ or under 65 and have a disability, no matter your income.
  • Medicaid is a state and federal program that provides health coverage if you have a very low income.
  • If you are eligible for both Medicare and Medicaid (dually eligible), you can have both. They will work together to provide you with health coverage and lower your costs.

Also know that while Medicare and Medicaid are both health insurance programs administered by the government, there are differences in covered services and cost-sharing. Make sure to call 1-800-MEDICARE or contact your local Medicaid office to learn more about Medicare and Medicaid costs and coverage, especially if you are a dual-eligible.

© Medicare Rights Center. Used with permission.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

 

Related Content

Split Annuity Strategy

Split Annuity Strategy

Here's one strategy that combines two different annuities to generate income and rebuild principal.

Tax Efficiency in Retirement

Tax Efficiency in Retirement

What role would taxes play in your investment decisions?

Do Our Biases Affect Our Financial Choices?

Do Our Biases Affect Our Financial Choices?

Even the most seasoned investors have biases affecting their financial choices.