If you live in Maryland and are considering the health insurance options that are available to you, you have likely already begun to look into Maryland Medicare vs Maryland Medicaid. However, these two similar programs have important differences, and understanding what you can expect, how they operate, and whether you qualify for one of them is important in helping you to make an informed decision about your health and wellbeing. It is possible to qualify for both Medicare and Medicaid, so you should carefully examine these programs to ensure that you receive the best care possible.
What Is Medicare?
Medicare is a federally funded program that covers a few very specific groups of people: those over the age of 65, those with disabilities, and individuals who are suffering from end stage renal disease, which is a permanent form of kidney failure that requires the person to undergo dialysis frequently. Medicare comes with a variety of coverage types, from prescriptions and inpatient coverage to Medicare advantage plans that give a person access to private healthcare plans that are approved by Medicare but administered by a separate party. It is possible to qualify for both Medicare and Medicaid at the same time; this is called dual coverage, and if you qualify for both, Medicare will always come into effect first if possible.
What Is Medicaid?
Medicaid is a different program than Medicare, and it is targeted at individuals and families whose income is near the poverty line, families with children, and people with disabilities. You can apply for Medicaid at any time during the year, but you must recertify every 12 months in order to continue qualifying for the service. Medicaid, like Medicare, can cover doctor’s appointments, medications, and inpatient services, but it is important to check the details of your specific plan for a comprehensive understanding of what is covered.
Main Differences Of Maryland Medicare Vs Maryland Medicaid
Even though Medicare and Medicaid sound very similar, they do have some important differences. Medicare is only available to individuals; even if someone qualifies for Medicare, their family will not be covered. In contrast, Medicaid is available for an entire family, and if parents no longer qualify at some point, their children can still be covered under a branch program called CHIP (Children’s Health Insurance Plan) until they are 19 years old. You may apply for Medicaid at any time during the year, but Medicare has a specific enrollment window that is unique to you, and failing to file within it may incur late enrollment penalties.
Medicare Is An Insurance Program
Medicare is intended to serve as a health insurance program for a specific subset of people. It provides multiple types of coverage depending on those people’s needs, including inpatient visits, outpatient procedures, office visits, and prescriptions. In an effort to make health insurance available to these groups, Medicare may also offer approved insurance plans administered by a third party for a monthly premium.
Medicaid Is An Assistance Program
In contrast, Medicaid is meant as an assistance program that can mitigate the costs of healthcare for individuals and families that may otherwise be unable to afford it due to income constraints. This is why Medicaid eligibility is determined by a household’s income rather than by someone’s age. The income qualification is also what enables some individuals to enroll in both Medicaid and Medicare depending upon their unique situation.
Medicare Is Federally Funded
Medicare is a federally funded program that is available across the nation. The enrollment period is when you turn 65 (the three months preceding and after your birthday), although you can still enroll between January and March if you are willing to pay a late enrollment fee.
Medicaid Is Federally And State Funded
Medicaid is funded both federally and at the state level, which means there is more variance in how it operates. You will need to check your state’s Medicaid and your own plan in order to understand what is covered for you. In general, those who benefit from Medicaid pay no part of the costs of their care, though individual coverage will vary by state.
Speak To Insight Treatment Center For Assistance With Maryland Medicare Vs Maryland Medicaid
If you are considering whether Medicaid, Medicare, or both are right for you and are struggling to understand if you qualify, it is important to seek help from those who are experienced with the process. Insight Treatment Center would be happy to help you determine whether either of these federal or state programs is right for you and can assist you in filing your application or understanding what benefits you can expect from these plans. Reach out to begin the process of receiving the healthcare and treatments that you deserve to improve your quality of life and keep you safe and healthy.