Question

2. Describe the roles that Medicare and Medicaid play in funding programs and services across the long term care continuum, from the provision of resources to assist elders to "age in place" to nursing home care?

Answer 1

Medicaid and Medicare are two governmental initiatives that cater medical and health-related services to specific groups of people in the United States.  they both come under the management of the Centers for Medicare and MedicaidServices.

Medicaid is a social welfare, or social protection, program. Medicaid is a means-tested health and medical services program for certain individuals and low-income households with few resources. Each state makes the final decisions regarding what their Medicaid plans provide, but they must meet some federal requirements to receive federal matching funds. It  does not directly provide people with health services, Instead reimburses healthcare providers for the care that they delivered. payments are made by state on the basis of fee-for-service agreement or through prepayment arrangements.  The federal government then reimburses each state for a percentage share of their Medicaid expenditures.This Federal Medical Assistance Percentage (FMAP) changes each year and depend on the state's average per capita income level. Medicaid provide services to categories like pregnant women, children, and parents who earn an income above the mandatory coverage limits, some adults and seniors with low income and limited resources, certain adults who are older, have vision loss or another disability, and have an income below the FPL

Medicare is a federal health insurance program that pays for hospital and medical care both for old and disabled people in the U.S.

The program consists of two main parts for hospital and medical insurance (Part A and Part B), two additional parts that provide flexibility and prescription drugs (Part C and Part D)

Most of the funding for Medicare comes from payroll taxes that the Federal Insurance Contributions Act (FICA) collects, the Self-Employment Contributions Act (SECA), This money goes into a trust fund, which the government uses to reimburse doctors, hospitals, and private insurance companies. Additional funding for Medicare services comes from premiums, deductibles, coinsurance, and copays.