Medicaid planning and how it differs from Medicare in New York

A common source of uncertainty for many in New York and elsewhere is the difference between Medicare and Medicaid. Many individuals confuse the two, and still more wonder why Medicaid planning is even necessary, assuming without much forethought that they will be able to rely on the government program when the time comes. In fact, not only do the two programs differ greatly, but without adequate preparation, qualifying for Medicaid may come at a high cost.

Essentially, Medicare is a health insurance program through the federal government, while Medicaid is a medical assistance program jointly run by both state and federal governments. Medicare pays seniors' – individuals over the age of 65 – medical bills from a fund into which those covered have paid during their working lives. Medicaid, on the other hand, is a needs-based program for low-income individuals.

Medicaid pays medical expenses from tax funds, including local, state and federal. Sometimes, the cost is fully covered; other times, co-pays are required. However, there are a number of regulations and eligibility requirements that must be met, and qualifying individuals must demonstrate their limited financial resources.

This is why Medicaid planning is so important. Without proper preparation, many people are forced to spend down a lifetime of savings and retirement preparation before they can qualify for assistance. In the end, they are left with next to nothing, and no inheritance -- monetary or otherwise -- of any kind to leave for loved ones or beneficiaries. However, with the help of an experienced Long Island, New York Medicaid planning attorney, there are a variety of methods individuals can employ that will allow them to qualify for assistance without quickly depleting their life savings and assets.

Source:, "The Difference Between Medicaid and Medicare", Marlo Sollitto, Accessed on Jan. 26, 2018

No Comments

Leave a comment
Comment Information
FindLaw Network

Let’s Talk.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

An Elder Law And Estate Planning Law Firm On Your Side.
Futterman, Lanza & Pasculli, LLP | Elder Law & Estate Planning Law Firm

satellite office

By Appointment Only

180 East Main Street
Suite 101
Smithtown, NY 11787

Phone: 631-894-4730
Fax: 631-979-9546
Smithtown Law Office Map

13 East Main Street
Bay Shore, NY 11706

Phone: 631-515-5978
Fax: 631-665-9262
Bay Shore Law Office Map

satellite offices
1050 Franklin Avenue
Suite 302
Garden City, NY 11530

Phone: 631-894-4730
Phone: 516-750-5511
Fax: 516-453-0299
Map & Directions

33 Flying Point Road
Suites 121/122
Southampton, NY 11968

Phone: 631-894-4730
Map & Directions