MediCARE vs. MediCAID | Medicaid Programs and How They Affect Your Medicare

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It’s common for people to get confused about the differences between Medicare & Medicaid. Here at Boomer Benefits, we specialize in Medicare, which is the federal health insurance program for people aged 65 and older and individuals with certain health conditions.
However, it’s entirely possible to be eligible for Medicare and Medicaid if you meet your state’s eligibility criteria. In this video, I will compare the difference between Medicare vs. Medicaid.
Medicare vs Medicaid (00:00)
What is Medicaid (00:58)
Medicare Savings Programs (2:11)
Qualified Medicare Beneficiary- QMB (2:30)
Specified Low-Income Medicare Beneficiary- SLIMB (4:01)
Qualifying Individual- QI (4:17)
Qualified Disabled and Working Individual- QDWI (4:39)
Extra Help or Low-Income Subsidy (5:10)
Applying for Medicare Savings Programs (5:31)
Information you’ll need for Medicaid (6:09)
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Опубликовано:

6 авг 2024

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Комментарии : 45

@russellgray3303 2 года назад

I enjoyed watching your videos, it explains everything in detail, the video is very interesting and effective. Thank you and good luck with the upcoming videos.

@EwClubb1 3 года назад

Great learning video. Good design w/simple (and balanced) visuals.

@BoomerBenefits 3 года назад

Thank you! We're happy to enjoyed it.

@eddyvideostar 3 года назад

To E. Dubbz: It is a good thing that this is on RU-vid; thus, having the ability to rewind, review, rinse, and repeat.

@SuperGreatSphinx Год назад

Qualified Medicare Beneficiary (QMB) is a Medicaid program for people who are already receiving Medicare benefits. The purpose of the program is to reduce the cost of medications and copays for doctors, hospitals, and medical procedures.

@BoomerBenefits Год назад

Thank you Stella!

@sandrabrown2757 3 года назад

Can you explain dual eligible medicare advantage plans? I thought that had to do with medicaid.

@BoomerBenefits 3 года назад

They are special needs plans designed to coordinate with Medicaid. You also get a quarterly Special Enrollment Period that allows you to change plans up to 4 times a year (once per quarter).

@eddyvideostar 3 года назад

@@BoomerBenefits In what way can one change plans, -- from original Medicare to a G plan, for example? or from an Advantage plan to a Medicare supplement?

@BoomerBenefits 3 года назад

Hi @@eddyvideostar - You can apply for a Medigap plan, such as Plan G, anytime throughout the year. However, the best time to enroll in a Medigap plan is during the 6-month Medigap Open Enrollment. The Medigap Open Enrollment begins on the day your Part B becomes active and lasts for 6 months. Whenever you apply for a Medigap plan during those 6 months, a carrier cannot ask you health questions. When you apply for a Medigap plan OUTSIDE the Medigap Open Enrollment, you will likely have to answer health questions in most states. Now, the time to enroll in a Medicare Advantage plan is during your Initial Enrollment Period. If you wish to change from a Medicare Advantage to a Medigap plan, you can do this during the Annual Election Period (October 15 - December 7). The AEP is designed to either drop, change, or enroll in a Medicare Advantage and Part D plan. However, this time does not exempt you from underwriting when applying for a Medigap plan. Learn more: boomerbenefits.com/medicare-supplement-open-enrollment/ boomerbenefits.com/medicare-annual-election-period-2020-6-things-you-can-do-and-1-thing-you-cant/

@tomatodo8334 3 года назад

My father has QMB, does it make sense for him to get Medigap? Seems that QMB acts as Medigap, I'm wrong?

@BoomerBenefits 3 года назад

The only time a Medigap plan would help him would be if he saw a doctor who didn't accept Medicaid. If he sees doctors who accept Medicare and Medicaid, then Medicaid QMB will act like his supplement.

@kygent508 3 года назад

I see ads that if you have medicare and medicaid there are more things you can get,what is up with that?

@user-gh8sl7iu3y 3 года назад

If a person is on any of these Medicare/Medicaid assistance programs and has to go into Hospice or assisted care do they have to turn their social security income over to the care facility? Example would be in PA.

@BoomerBenefits 3 года назад

We never deal with SS benefits, so we can't be sure, but we don't believe they would have to.

@user-gh8sl7iu3y 3 года назад

@@BoomerBenefits thank you

@BoomerBenefits 3 года назад

@@user-gh8sl7iu3y You're welcome

@eddyvideostar 3 года назад

@@BoomerBenefits Could you do the views a favor and please find out and check?

@BoomerBenefits 3 года назад

@@eddyvideostar We are a Medicare broker who does not specialize in Social Security. We recommend joining Devin Carroll's Facebook group if you are wanting information about Social Security, as he is a Social Security expert. You can ask your question there and maybe he can help. Here is the link: facebook.com/groups/428684237572614/

@mochalatay3463 3 года назад

I am 21 and I have Medicaid. I was looking into investing into a Roth IRA and a HSA. Will I be ineligible for a HSA? Should I just continue to use my Medicaid and forget about the HSA? I want to invest my HSA into the stock market when I turn 65, I am not interested in using it for real medical expenses. Am I allowed to have both Medicaid and a HSA?

@mochalatay3463 3 года назад

Should I switch out for a hdhp?

@SandfordSmythe 2 месяца назад

@@mochalatay3463What's your asset limitations for Medicaid?

@connie6853 3 года назад

Can you loose your home if you own it in order to get the Medicare help?

@BoomerBenefits 3 года назад

Hi Connie, we aren't completely sure what you're asking. If you can't afford Medicare, you don't have to lose your home in order to pay for Medicare, instead, you'd apply for Medicaid.

@kellyyork3898 Год назад

What is a “choice” program?

@BoomerBenefits Год назад

The Choices program assists applicants, recipients, nonrecipient parents, and former recipients of Temporary Assistance for Needy Families cash assistance to transition from welfare to work through participation in work-related activities, including job search and job readiness classes.

@dulatrivedi5597 2 года назад

I am dual eligible person. Me and my husband. I m 68 n he is 69. I m very confused what medicare plan I select. I m in state of NJ. Can you please guide me?

@BoomerBenefits 2 года назад

Hi Dula - Please give our team a call at 817-249-8600 and we will be able to help guide you in the right direction.

@frankjhonson2345 21 день назад

Yea don't get medicaid. You have to pay them EVERYTHING BACK.😮

@emeraldcity7942 3 года назад

is it federal mandate for ssi medicaid recipients to sign up for medicare at their 65th birthday?

@BoomerBenefits 3 года назад

Yes, because Medicare becomes primary and Medicaid becomes secondary.

@lifeofvictoriascott9949 3 года назад

i get medicare at 30 ,i was on ssi with medicaid .now im drawing off my parents

@lucieelizabethannwesson7016 Год назад

@@lifeofvictoriascott9949 Everyone of SSDI get Medicare

@lucieelizabethannwesson7016 Год назад

You will automatically get your Medicare when you turn 65.

@lucieelizabethannwesson7016 Год назад

You will get automatically get your Medicare when you turn 65. However each state is different. My state pays for my premium; copayments and deductibles.

@jamesdombroski152 Год назад

Can someone please help me on this no body knows a answer to do I have Medicaid and my sister have Medicaid can I use her home address for it

@BoomerBenefits Год назад

Hi James - Since we don't specialize in Medicaid, we do not want to give you any misinformation. We recommend contacting your local Medicaid office about this!

@eddyvideostar 3 года назад

Dear Boomer: Question: If one gets a Medicare supplement like N or G, will this cause jeopardy of Medicaid? Does Medicaid work along with a Medicare supplement? Will Medicaid work along only if one has original Medicare A+B?

@BoomerBenefits 3 года назад

It will depend on the level of Medicaid you have. If you have QMB Medicaid, you would not need a Medicare Supplement. Medicare and Medicaid work together. While Medicare will be your primary insurance, your Medicaid will pay as secondary. This includes your Medicare Part A or B premiums, deductibles and coinsurance costs. Other levels of Medicaid would only pay your Part B premium for you, which means you can get a Medicare Supplement to help with the out-of-pocket costs from Medicare. Learn more: boomerbenefits.com/medicare-medicaid-and-extra-help-for-part-d/

@connie6853 3 года назад

Medicaid asks for all your assets. Why? Also I was told I had it then I was told that I didn't. Who can tell me the truth?

@BoomerBenefits 3 года назад

So they know your total value. yes, you can qualify one year, and not another - just depends if your income/assets changed. You need to call the SS office for these specific Medicaid questions since qualifications vary by state and since we are just a Medicare brokerage and can only tell you how Medicare works with medicaid.

@thomasengstrom2761 2 года назад

these 2 systems must be the dumbest thing i ever heard..a rich country as USA cant get help there People better.. with full Coverage for health care ... but have a budget for the United States Armed Forces that you can throw money at.:/ sad ...

@SandfordSmythe Год назад

This all can be done without touching the defense budget. The resources already exist in the healthcare sector. No need to antagonize those folks.