Medicare

Insurance Program. Medicare has two main parts: Part A for hospital insurance and Part B for medical care insurance. Part A covers nurshing home care,home health care, and hospital inpatient care. Part B allows for reduced price prescription drugs, preventative care, and medically necessary services like ambulances.

Cost: You can receive Part A without paying premiums by paying Medicare taxes for over ten years, or through social security. Most people must pay premiums for Part B. The monthly premium for Part B in 2020 is around $144, and the deductible is $198. These costs have increased 7% from last year. 

Part C: Medicare Advantage Plans

Medicare Advantage Plans, sometimes called Part C, are offered by private health insurance companies that Medicare approves. A Medicare Advantage Plan gives coverage for Part A and Part B. Extra coverage may be given for other health services like dental work or eye exams, and some cover Part D (prescription drugs). Medicare pays the companies to cover the patient’s care.

Part D: (Some) Prescription Drug Coverage

Some plans include limited access to prescription drugs. Medicare chooses two drugs for each drug category, although exceptions can be made. Part D is only available through private companies, unlike Part A and B.

Medicaid

Type: Assistance program. 

The program varies from state to state, but it aimed to help people who have low income afford healthcare services and treatment. The most common coverage includes prescription drug costs, hospital services, pediatric services, mental health care, physical and speech therapy, and sometimes dental and eye care. It is part of the social safety net and is means tested welfare, meaning you qualify based on income. Medicaid provides health insurance to 74 million people, and 47 million are children, elderly, disabled, or pregnant. The median Medicaid expenditure per capita per year is 8,000 dollars.

Cost: Medicaid is free or low cost, but your income must be under a certain amount (varies by state) to qualify.

 

Obamacare- Affordable Care Act (ACA)

Type: Expansion on Medicaid

Using federal power, the Affordable Care Act expanded all state Medicaid programs to cover up to 138% of the federal poverty line. It subsidizes health insurance costs for households that make up to 400% of the poverty line. ACA also limits insurance companies right to deny coverage or charge more based on pre-existing conditions (known illnesses/health issues that predate accepting health insurance). 

Health Insurance Program (CHIP)

Type: Expansion on Medicaid

Gave children Medicaid coverage and EPDST (Early and Periodic Screening, Diagnostic, and Treatment) services if their household made under 138% of the poverty line. The federal government matches the money that states put into this program.

 

Veterans' Health Administration

Type: Veteran Military Health Insure and Services

The Veterans Health Administration is the nation’s largest healthcare network, and almost 9 million veterans use the program. It is run by the Department of Veterans Affairs, which ran hospitals as early as 1945. It covers primary care and specialist visits. Home health and geriatric options are available, and healthcare items like prosthetics and prescription drugs are at least partially covered, if not wholly covered. 

Tricare

Type: Military Health Insurance and Services

Read More: https://purpleamericainitiative.org/medicare-obamacare-medicaid-whats-the-difference/