[med-i-keyd] 
) | a U.S. government program, financed by federal, state, and local funds, of hospitalization and medical insurance for persons of all ages within certain income limits. |
| Med·i·caid also med·i·caid (měd'ĭ-kād') n. A program in the United States, jointly funded by the states and the federal government, that reimburses hospitals and physicians for providing care to qualifying people who cannot finance their own medical expenses. [medic(al) + aid.] |
A state and federally funded program that reimburses healthcare providers for care given to qualifying people who cannot pay for their medical expenses.
Medicaid
A joint federal and state program that helps low-income individuals or families pay for the costs associated with long-term medical and custodial care, provided they qualify. Although largely funded by the federal government, Medicaid is run by the state where coverage may vary.
Investopedia Commentary
In many states, nursing home stays for non-skilled, custodial care is all that is covered, meaning staying at home and receiving medical care is not always an option. In addition, Medicaid may not be accepted by all nursing homes nor will it cover recreational activities or any other forms of non-medical care. However, it does cover the entire cost for your stay in a facility as long as you need the care.
Related Links
Medicaid Versus LTC Insurance
Medicare: Defining the Lines
Taking The Surprise Out Of Long-Term Care
See also: Medicare, Medicare Wages, Pension, Social Security
Medicaid Med·i·caid or med·i·caid (měd'ĭ-kād')
n.
A program in the United States, jointly funded by the states and the federal government, that reimburses hospitals and physicians for providing care to qualifying people who cannot finance their own medical expenses.
| Medicaid medical aid insurance |