Medicaid vs. Medicare
While they are often confused with each other, it is important to understand a critical difference between the two. Medicare is short term care that is broken down into four main “parts”:
- Part A: Hospital/Hospice Insurance
- Part B: General medical insurance
- Part C: Medicare Advantage. This is an HMO. Medicare Part C is elected instead of Part A & B and typically provides more services, including prescriptions. Usually covers the 20% not covered subject to co-pays/deductibles.
- Part D: Prescription Drugs. Pays initial deductible and when certain thresholds are reached there is the dreaded “donut hole.”