Medicare is a health coverage scheme tailored to facilitate medical care for individuals aged 65 and above, as well as certain distinct populations with disabilities, including individuals suffering from End-Stage Renal Disease, irrespective of their financial status or assets. Administered on a Federal level by the Centers for Medicare and Medicaid Services (CMS), Medicare contributes to a portion of healthcare service expenses while Medicare Participants (that’s you) handle some costs through co-payments, co-insurance, and deductibles.
On the other hand, Medicaid is a health insurance framework established for individuals of all ages who fall within the low-income bracket. Eligibility for Medicaid requires adherence to specific fiscal and resource criteria. Medicaid largely covers the healthcare service expenses, with beneficiaries incurring minimal to zero co-payments or coinsurance. This program is operated by state and local governments, under the guidance of CMS.
