Comments on: Medicare & Medicaid Health Insurance Programs Explained

By: Cody

Cody — Mon, 11 Oct 2010 20:44:16 +0000

Medicare is currently based on age. Would there be any benefits of Medicare being based on need rather than age?

By: Shirley

Shirley — Wed, 05 Aug 2009 09:44:51 +0000

Facts about Medicare:

Part A is mandatory, no choice.
Part B premium ($93.50 in 2009) is taken out of the monthly SS check.

Medicare does not cover preventative medical care. For that coverage, you must also subscribe to another health care coverage and part B is a mandatory requirement.

We have one of the least expensive at $109 each monthly. I know that others can run quite a bit more.

By: Shawanda

Shawanda — Tue, 04 Aug 2009 22:44:48 +0000

I really never gave much consideration to these programs. I long to live off income that isn’t subject to Medicare and Social Security taxes.

A while back, I tried to see if a close family member qualified for Medicaid. Although this individual had a low income, she did have a modest amount of equity in her home, as well as, what I’d consider, a little bit set aside in her 401(k). I don’t think it takes much in assets to disqualify you for the Medicaid.

By: dilbert69

dilbert69 — Tue, 04 Aug 2009 20:56:49 +0000

My friend who lives in Oregon and has zero income cannot qualify for Medicaid because she doesn’t have any children. So it’s not just for poor people. It’s for poor people with children or those whom Social Security deems disabled.

By: eric

eric — Tue, 04 Aug 2009 20:25:20 +0000

It’s an often-confused topic. Good post!

By: freeby50

freeby50 — Tue, 04 Aug 2009 18:00:13 +0000

The prescription drug plan is part D rather than part A.

By: Patrick

Patrick — Tue, 04 Aug 2009 14:26:32 +0000

It’s always good to know the difference between these programs. Since they sounds really similar, people often think they are the same program or mix the two programs up.

By: Marlo

Marlo — Tue, 04 Aug 2009 13:42:30 +0000

Very good overview of the programs. Here in our state, to qualify for Medicaid a person cannot have more than 2K in financial assets.

Also, some states can collect on a deceased persons estate after they have used Medicaid funds. For example, if they have any assets like a personal residence that is sold after the recipient passes the state can recoup some costs of care from the proceeds of that sale.

Unfortunately I am not an expert of this and at this time of the morning I do not have links! I recall reading an article about this in the WSJ a few years back that explained it. I have also worked with Medicaid programs in our state but cannot come up with a link yet.

By: Dave

Dave — Tue, 04 Aug 2009 13:13:05 +0000

Thanks, very informative.