Medicaid FAQs What is Medicaid? Medicaid is a federal and state health insurance program that provides coverage to low-income individuals, families, pregnant women, children, and people with disabilities. Who is eligible for Medicaid? Eligibility for Medicaid varies by state, but generally, individuals with limited income and resources, including pregnant women, children, seniors, and people with disabilities, may be eligible. What benefits does Medicaid cover? Medicaid covers a range of benefits, including doctor visits, hospital stays, prescription drugs, preventive care, and long-term care services. How is Medicaid financed? Medicaid is financed by both the federal and state governments. The federal government provides a matching payment to states based on their per capita income, while states contribute a portion of their own funds. How do I apply for Medicaid? You can apply for Medicaid through your state's Medicaid agency. Eligibility requirements and application processes vary by state, but many states allow you to apply online, by mail, or in person. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.