Business, Legal & Accounting Glossary
A program established by the federal government and administered by the states to help pay medical costs for financially needy people. Need is defined by the program of the state in which the applicant resides. Medicaid operates in addition to Medicare to help pay for some of the medical costs that Medicare does not cover.
US government system for providing medical assistance to persons unable to afford medical treatments.
A program, funded by the federal and state governments, which pays for medical care for those who can’t afford it. The program typically helps low-income individuals or families, as well as elderly or disabled individuals. To receive Medicaid, an individual must meet certain requirements (such as income level), and also must go through an application process. Although all states participate in the Medicaid program, each state manages their own program, and is able to set different requirements and other guidelines.
I learned about Medicare and Medicaid and it made me a big supporter of both because I thought they really helped people in need.
ABC Inc. has decided to raise its minimum wage because the CEO found out that many employees are forced to turn to Medicaid for health insurance.
I only signed up for Medicaid because it was required under the new law to be signed up for something, but once i hear back from them I can see about changing my health plan.
health insurance
earned income tax credit
social insurance
recipient
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This glossary post was last updated: 7th November, 2021 | 0 Views.