Medicare and Medicaid

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Medicare Medicaid
What's the Difference?
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Government Funded Health Insurance
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Medicare and Medicaid are two different
government programs that provide health
insurance to people in America
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Though they are both insurance programs, there
are considerable differences between them
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Medicare for Seniors
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Medicare is a program that provides health
insurance for senior citizens
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People who have paid into the program
sufficiently during their working years qualify
at the age of 65
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This is the current age of eligibility
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However, there has been talk of increasing it to
save money
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Medicare Comes in Different Parts
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There are different parts that comprise Medicare
as a whole
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There are different parts that comprise Medicare
as a whole
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Medicaid Is a Need-Based Program
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If you qualify Medicare is available to you
regardless of your level of financial need
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You could be a billionaire and still qualify for
Medicare
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On the other hand, Medicaid is a need-based
program
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It is only available to people who have very
limited financial resources
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Medicaid Upper Asset Limit
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Medicaid is a jointly run federal-state program
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As a result, the guidelines are slightly
different state-by-state
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Generally speaking, the upper asset limit for
Medicaid eligibility is 2000
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Everything that you own does not count
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Your home would not count up to an upper equity
limit that stands at 802,000 in Connecticut in
2013
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Why Medicaid?
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You may wonder why Medicaid is relevant to
someone who would be eligible for Medicare
coverage
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The answer is that Medicare does not pay for
long-term care
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Medicaid is relied upon by most senior citizens
who are residing in nursing homes
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Hartford CT Medicaid Planning
Hartford CT Medicaid Planning
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• It is possible to work within the program rules
  and qualify for the Medicaid program while
  keeping a maximum store of assets in the family

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If you would like to explore these strategies
contact our firm schedule a free consultation
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• Nirenstein Horowitz
• [phone]
• www.preserveyourestate.net