Medicaid

What Does Medicaid Mean?

Medicaid is a government program designed to provide health insurance for individuals who cannot afford private policies and do not receive health coverage through their employer.

Although Medicaid is administered by state governments, the majority of its funding comes from federal tax revenues.

Insuranceopedia Explains Medicaid

Medicaid provides health insurance that is either fully or partially subsidized by the government to those who qualify. Households in this income bracket often need affordable coverage in other lines Medicaid does not cover, which is what programs like low-income car insurance are built around.

Individuals of all ages may be eligible for Medicaid, but they must meet specific criteria, such as being a U.S. citizen and having a low income or certain disabilities. For people who qualify on the disability side, Medicaid pays for medical care but does not replace lost wages, which is the role of private disability insurance.

While most states participate in the Medicaid program, they have the option to opt out.