Medicare is an entitlement program meaning that everyone who reaches 65 is eligible for coverage and is completely federally funded while Medicaid is awarded only after meeting strict income and asset guidelines and is a joint federal-state program that is run by each individual state however must meet federal guidelines in order to receive monies. The biggest difference between Medicare and Medicaid when it comes to long-term care planning?
The Difference Between Medicare and Medicaid in the Context of Long-Term Care
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