Navigating the Medicaid and Medicare Maze

Medicare offers health care for Americans ages 65 and older or those younger than 65 with a disability, while Medicaid covers low-income people of any age. Following is some basic information about each program. For more detailed information, contact the Centers for Medicare & Medicaid Services. 

Medicaid
If the person you are caring for qualifies as having a low income, Medicaid pays for certain medical and long-term care services, prescription drugs, and nursing home care.

Medicaid planning often requires forethought because a person must have very few assets to qualify for Medicaid coverage. The limit may be as low as $2,000, excluding the value of a home and possibly a car.

A person must "spend down" before becoming eligible. Eligibility requirements and rules about spending down vary by state. Because rules change frequently, planning strategies must follow suit. An elder-law attorney with Medicaid experience can provide the best guidance.