The meaning of Medicaid and the way it is administered. Introduction: Insurer can be defined as a company or a person that underwrites the risk associated with the insurance. In other words, it is a company or person that enters into a contract to provide cover in case of damage or loss. Medicaid provides health care coverage to Americans, which includes people with disabilities, elderly adults, pregnant women, children and eligible low income adult’s .The administration of the Medicaid is done by states in accordance with the federal obligations. The funding of this program comes jointly from federal as well as state government. People that fit into a specified eligibility and comply with asset standards and federal income can only qualify for this Medicaid program. DHSS has been authorized by the federal government to put a limitation on service as long as services are sufficient in scope, duration and amount to satisfy the medical needs of person. The Medicaid program cost almost ten percent of the total budget of the federal government. It can be concluded that Medicaid is a health insurance program which is funded jointly by state and federal government for needy and low income people. The coverage of this program is extended to disabled, blind, aged and children. This program is administered by state, but fifty percent to seventy percent of the funding for the Medicaid program is paid by federal government to the states.

EBK HEALTHCARE FINANCE: AN INTRODUCTION

6th Edition

ISBN: 9781567937428

Author: Gapenski

Publisher: YUZU

See similar textbooks

Concept explainers

Trends in the Industry

We all know that we live in a dynamic environment that keeps changing with no break. Earlier, we used to visit banks for any work, but now you can do any work online. Similarly, shopping is also no more physical. You need an excuse to buy something, and …

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 2, Problem 2.2STQ

Chapter 2, Problem 3.1STQ

Students have asked these similar questions

what is medicare

Have we made the payment structure of health care to complicated?

Why is health insurance a necessity?

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

SEE MORE QUESTIONS

Recommended textbooks for you

Business/Professional Ethics Directors/Executives...
Accounting
ISBN:9781337485913
Author:BROOKS
Publisher:Cengage
Administration Of Wills/Trusts/ And Estates
Finance
ISBN:9781285281308
Author:Brown
Publisher:Cengage
Business Its Legal Ethical & Global Environment
Accounting
ISBN:9781305224414
Author:JENNINGS
Publisher:Cengage
Personal Finance
Finance
ISBN:9781337669214
Author:GARMAN
Publisher:Cengage
Individual Income Taxes
Accounting
ISBN:9780357109731
Author:Hoffman
Publisher:CENGAGE LEARNING - CONSIGNMENT
SWFT Comprehensive Vol 2020
Accounting
ISBN:9780357391723
Author:Maloney
Publisher:Cengage