Medicare vs. Medicaid Qualification

Medicare Eligibility is a health-care benefit provided by the federal government to individuals over age 65, or under age 65 and disabled.  Medicare covers doctor visits, tests, and care provided in a hospital and limited benefits in a nursing home (see below).  Medicare enrollment begins three months before your 65th birthday and continues for 7 months.  If you are currently receiving Social Security benefits, you will be automatically enrolled in Medicare Parts A and B effective the month you turn 65.

Medicaid is the health care program for individuals who do not have another form of insurance or whose insurance does not cover what they need, such as long-term care.  Many people rely on Medicaid for assistance in paying for care at home or in nursing homes.  To qualify, you must meet certain income and asset limits. If your income or assets exceed the qualifying limits, you will not be eligible.  To be eligible for Medicaid benefits, a person must need assistance that requires nursing home level care.  There is no age restriction to qualify.

Qualification

To qualify for Medicare, you must be over 65, and eligible for Social Security benefits.  You may also qualify if you are under age 65 and disabled for two years.  If you do not receive Social Security benefits, you will need to sign up for Medicare by calling the Social Security Administration.

To qualify for Medicaid you must submit a multiple-page application and provide detailed proof of all your financial transactions (banking, CD’s, stocks, bonds, income, expenses, annuities, etc.) for the previous 60 months.

Does Medicaid Planning work?

Simply put, yes it can! But only if done by an experienced and qualified Elder Law attorney because the laws are complicated, complex and timing can be everything. The rules governing married couples are different than unmarried people.