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Medicaid is indeed for persons under the poverty line. Medicare is for people 65 and older. Not that I think they'll stop at Medicaid.
by rezonant 2y ago
Medicaid is indeed for persons under the poverty line. Medicare is for people 65 and older. Not that I think they'll stop at Medicaid.
- matthewdgreen 2y agoA huge percentage of Medicaid goes to nursing homes. Medicare does not fully cover the service. You either pay out of pocket or if you’re destitute (as many elderly people are) you get Medicaid to cover the difference.
- matthewdgreen 2y agoAlso I want to add to this in case people don’t understand: End of life care is a giant vacuum cleaner designed to move wealth out of families. It is incredibly depressing. Because Medicare does not fully cover nursing homes, you have basically two choices: 1. Give up a huge percentage of your family’s assets (home, retirement savings etc.) so that it never gets handed down to kids and grandkids. 2. Gift those assets early (at least five years I think) so you are technically broke and then can qualify for Medicaid. Even if you don’t gift those assets early, many people will still run out of money because they aren’t wealthy. So they’ll also end up on Medicaid. People have the very dangerous impression that “Medicaid is for the poor and Medicare is for the rich” and oh hell are they about to make a terrible mistake.
- insane_dreamer 2y agoThat's a misunderstanding that many people have. Medicare does _not_ cover nursing and long-term care facilities for the elderly. That is covered by Medicaid.