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Medicare and Medicaid have been around for almost 60 years, but it's still easy to confuse these similar-sounding, government-backed health care programs. However, their costs and services differ, as can the makeup of their beneficiaries (with some exceptions).

In this article, we'll walk through what Medicare and Medicaid are, who's eligible for their services and what they cover when it comes to your health.

Key Takeaways

• Medicare and Medicaid are both health insurance programs, but they tend to serve different populations.
• Medicare is primarily geared toward those over age 65, plus some people under 65 with certain disabilities.
• Medicaid, on the other hand, is for low-income individuals.
• Some people can qualify for both Medicare and Medicaid and receive benefits from both. These beneficiaries are known as “dual eligibles.”

Both Medicare and Medicaid offer health care coverage, but they do so in different ways:

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Medicare is designed primarily to help older Americans cover the costs of medical care.

Those age 65 and older are eligible for Medicare, as are those under that age threshold who have disabilities or specific diseases (as mentioned above).

Medicare has two main parts:

Medicare Part A and Part B, known........

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