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What are the main differences between Medicare and Medicaid when it comes to coverage for older individuals?
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Medicare and Medicaid are both government-sponsored programs that provide healthcare coverage, but they serve different purposes and have different eligibility requirements. Medicare is a federal health insurance program primarily for people who are 65 or older, some younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant). It consists of different parts, including Part A (hospital insurance), Part B (medical insurance), Part C (Medicare Advantage), and Part D (prescription drug coverage). Medicare is generally available to all U.S. citizens or permanent legal residents who have lived in the U.S. for at least five continuous years. Medicaid, on the other hand, is a joint federal and state program that helps with medical costs for people with limited income and resources. While it also covers some older individuals, it is not limited to seniors and may cover a broader range of services than Medicare, such as long-term care. Eligibility for Medicaid varies by state and is based on income, household size, disability, and other factors. In summary, Medicare is primarily for older individuals and those with disabilities, while Medicaid is designed to assist people with limited income, including older individuals, but with a broader scope of coverage.
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