Medicaid Medicare : What Are the Differences?

1
MEDICAID AND MEDICARE
What Are the Differences?
2
Similar Names,
Important Differences
3
MEDICARE AND MEDICAID have similar sounding names
4
Some people mistakenly think that they describe
the same program
5
They are both government health insurance
programs, but they are independent from one
another
6
This presentation will provide some clarity
7
Medicare
8
To qualify for Medicare you have to earn
eligibility by accruing retirement credits
9
As you are working and paying taxes, you
accumulate these credits
10
Once you have 40 credits,YOU QUALIFY
11
You can earn a maximum of four credits per year
12
Medicaid
13
You don't have to earn retirement credits to
qualify for Medicaid
14

• People become eligible for Medicaid because they
  have significant financial need

15
To qualify for Medicaid, your countable assets
must not exceed the 2000 upper asset limit
16
Eligibility Age

17
Another one of the differences between these two
programs is age of eligibility
18
Medicare is available to qualified people who
have reached the age of 65
19
Medicare is available to qualified people who
have reached the age of 65
There is no age requirement for Medicaid coverage
20
Long-Term Care Costs
21
Most people will need long-term care eventually
22
Medicare will not pay for an extended-stay in a
nursing home or assisted living facility
23

• On the other hand,
• Medicaid will absorb these costs

24
Medicaid
Planning
25
Long-term care is very expensive
26

• Many people who were qualified for Medicare
  ultimately rely on Medicaid to pay for assisted
  living costs

27
Though there is a low upper asset limit,
everything that you own does not count
28
And, with the appropriate advance planning you
could divest yourself of assets before applying
for Medicaid
Raleigh-Durham Medicaid Planning Consultation
29
This is a brief look at the differences between
Medicaid and Medicare
30
If you would like to discuss Medicaid planning
with a licensed professional, contact our firm to
schedule a free consultation
31
Click to visit organizeyourassets.com