What is Medicaid?
Medicaid is a federal and state program that helps with medical care expenses for some individuals with low or no income and limited resources. Medicaid also provides additional benefits not usually covered by Medicare, such as personal care services and nursing home care. The federal government jointly operates the federal and state program, and each state has a responsibility for its own Medicaid programs.
The name ‘Medicaid’ is short for the federal Medicaid program. It is a jointly run program covering all the states’ residents. Apart from that, Medicaid has many other programs. These are the Medicare parts a and b, the state children’s health insurance program (SCHIP), the federal medication insurance program (FMIP), the federal Medicaid program (FMWIP), and the temporary assistance for needy families (TANF) programs. All these programs together form what we know as Medicaid.
As mentioned above, Medicaid is a federal/state program that provides medical coverage for the needy. Each state has its regulations covering eligibility for one type of coverage; for example, the Medicaid program will cover only people who earn less than the applicable poverty line. However, if an individual earns too much to qualify for Medicaid, they will have to get additional financial assistance from their state’s Medicaid program or a private insurance provider.
Dr. Cory Harow from West Boca Medical Center wants people to understand that Medicaid is divided into two parts. One part is what is known as Medicaid managed care, which pays for the medical care of individuals and families. The other part is called Medicaid insurance coverage, which pays for individuals and families that cannot pay for their medical care. Those two divisions are supplemental federal assistance for the uninsured, or SSI, and the health insurance exchange.
The Medicaid program works by providing low-income people and families with both medical and financial assistance. The medical assistance provided by Medicaid is comprehensive and consists of; hospitalization, physician visits, dental care, prescription drugs, hearing aids, and preventive care such as x-rays. In addition to medical assistance, Medicaid also provides coverage for family members such as children, parents, and grandparents.
Although the federal government runs Medicaid, the states also operate similar programs. These programs differ in a variety of ways, including how they administer the program, what they require from applicants, and in some cases, what they do not require. In many cases, the differences between the federal and state programs center on differences in premiums and cost-sharing. In some states, Medicaid participants must pay a premium to participate, while in others, the plans do not require premiums.
The purpose of Medicaid is to provide low-income individuals and families with the financial resources they need to access quality health care. Unlike private health insurance plans, which often cover only a portion of the costs of medical services, Medicaid covers the entire cost of services provided. However, even in instances where the patient is covered through a managed care program, such as Medigap, there are often limits to the extent that the coverage can extend.
Medicaid is cooperatively administered by the federal government and the state, providing coverage to people with varying levels of disabilities. Cory Harow believes that residents fitting specific income requirements are automatically eligible for Medicaid and are encouraged to sign up for this coverage through various means, including their employer, if they are employed, along with various private insurance plans, if they are eligible.