Obamacare vs. Medicaid: What’s the Difference?

Obamacare (The Affordable Care Act)

What is it?

The Affordable Care Act or ACA, more commonly known as Obamacare, is a comprehensive health care reform law that was signed into law in 2010. The ACA was designed to expand access to affordable health insurance to millions of Americans.

Who is eligible?

Most people living in the United States are eligible for health insurance coverage under the ACA. Some of the eligibility requirements include being a U.S. citizen or legal resident, and not being incarcerated.

What does it cover?

The ACA requires all health insurance plans to cover a comprehensive range of essential health benefits, including doctor visits, hospitalization, prescription drugs, and maternity care.

How much does it cost?

The cost of health insurance under the ACA varies depending on factors such as your age, income, and location. Some people may qualify for subsidies to help lower the cost of their premiums.

Medicaid

What is it?

Medicaid is a government program that provides health insurance to low-income individuals and families. Medicaid is jointly funded by the federal government and the states.

Who is eligible?

Eligibility for Medicaid varies from state to state. In general, people who qualify for Medicaid are those with low incomes and resources, including children, pregnant women, people with disabilities, and seniors.

What does it cover?

Medicaid covers a wide range of health care services, including doctor visits, hospitalization, prescription drugs, and long-term care. The specific services covered vary from state to state.

How much does it cost?

Medicaid is free or low-cost for those who qualify.

Key Differences Between Obamacare and Medicaid

1. Eligibility

Obamacare is available to most people living in the United States, regardless of their income or health status. Medicaid is only available to low-income individuals and families.

2. Cost

Obamacare plans can vary in cost depending on your income and other factors. Medicaid is free or low-cost for those who qualify.

3. Coverage

Obamacare plans are required to cover a comprehensive range of essential health benefits. Medicaid coverage varies from state to state, but it typically includes a wide range of health care services.

4. Administration

Obamacare is administered by the federal government. Medicaid is jointly funded by the federal government and the states and administered by the states.

Conclusion

Obamacare and Medicaid are two different health insurance programs with different eligibility requirements, costs, and coverage. Obamacare is available to most people living in the United States, while Medicaid is only available to low-income individuals and families. The ACA has expanded access to affordable health insurance to millions of Americans, but there are still many people who are uninsured or underinsured. If you are not sure if you qualify for health insurance under the ACA or Medicaid, contact a licensed agent or visit HealthCare.gov or the website of your state’s Medicaid agency for more information.