Do you know about Medicaid? If you have recently benefitted from this program, chances are, you may have some idea about it. And yes, this can be especially beneficial to those who need additional resources in taking care of their health.
- What is Medicaid?
Medicaid is public health insurance for people from low-income backgrounds—covering 1 in 5 Americans. Many of the beneficiaries require complex and expensive care, and Medicaid has funded much long-term care for Americans.
- Who benefits from Medicaid?
The target recipients are considered vulnerable populations in the community. We are talking about low-income families who have lesser access to quality care, the disabled population who needs further care management for their condition, and the elderly group to pay for their nursing and other care requirements.
- Who funds Medicaid?
The federal government and the states jointly fund this program. There is a match rate that the federal government deploys to determine how much funding for Medicaid would be granted to every state and as it is, it would vary in every state. This ensures sustainability in the program, so the insurance can continue to provide for the needs of its present beneficiaries and the next wave who would be eligible.
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