What are Medicare and Medicaid?

Medicare and Medicaid are two separate, government-run programs. They are operated and funded by different parts of the government and primarily serve different groups.

Medicare

Medicare is a federal program that provides health coverage if you are 65+ or under 65 and have a disability, no matter your income.

Medicare coverage depends on if you have Original Medicare or Medicare Advantage. Generally, Original Medicare includes Part A which covers hospital services and Part B which covers medical services. Medicare Advantage coverage includes Part A, Part B, and usually Part D which covers prescription drug costs. Visit Medicare.gov to find more information on the services covered by each Medicare plan.

Medicaid

Medicaid is a state and federal program that provides health coverage if you have a very low income. Medicaid provides health coverage to Americans, including eligible low-income adults, elderly adults and people with disabilities. Medicaid is administered by states, according to federal requirements. The program is funded jointly by states and the federal government. In Colorado Medicaid can cover the costs of home health, hospice, private duty nursing, and durable medical equipment, just to name a few items. A table for benefits of Colorado Medicaid can be reviewed at Health First Colorado.

If you are eligible for both Medicare and Medicaid (dually eligible), you can have both. They will work together to provide you with health coverage and lower your costs. Also know that while Medicare and Medicaid are both health insurance programs administered by the government, there are differences in covered services and cost-sharing.

Preferred Provider Services Colorado

At Preferred Provider Services we accept both Medicare and Medicaid, and are not only committed to your health care needs, but also available to answer your questions regarding Medicare and Medicaid and our services.

Please don’t hesitate to contact us!