Economics Semester Exam

Question

23 of 3123 of 31 Items

Question
How does Medicaid compare to Medicare? Explain.(1 point)
Responses

Medicaid is funded by the federal government only and provides health coverage based on financial need for people under age 65. Medicare is a state government health-care insurance program for people 65 years or older.
Medicaid is funded by the federal government only and provides health coverage based on financial need for people under age 65. Medicare is a state government health-care insurance program for people 65 years or older.

Medicaid is funded by state governments only and provides health coverage based on financial need for people under age 65. Medicare is a federal government health-care insurance program for people 65 years or older.
Medicaid is funded by state governments only and provides health coverage based on financial need for people under age 65. Medicare is a federal government health-care insurance program for people 65 years or older.

Medicaid is funded by state and federal governments and provides health coverage based on financial need. Medicare is a federal government health-care insurance program for people 65 years or older and those with certain disabilities under age 65.
Medicaid is funded by state and federal governments and provides health coverage based on financial need. Medicare is a federal government health-care insurance program for people 65 years or older and those with certain disabilities under age 65.

Medicaid is a state government health-care insurance program for people 65 years or older. Medicare is a federal government health-care insurance program for people with certain disabilities under age 65.

Answer 1

The correct response that accurately explains how Medicaid compares to Medicare is:

Medicaid is funded by state and federal governments and provides health coverage based on financial need. Medicare is a federal government health-care insurance program for people 65 years or older and those with certain disabilities under age 65.

This statement correctly highlights the key differences between Medicaid and Medicare in terms of funding sources, eligibility criteria, and the populations they serve.