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Financial Planner

Category - Retirement Savings and Income Planning

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Which of the following is true regarding Medicaid?

Medicaid is a health insurance program specifically designed for retirees
The laws enacting Medicaid were signed in 1985
Medicaid is designed to be run at the state level
The Affordable Care Act provided less federal funding to most states

Explanation

Answer: C - The Medicaid program was created in 1965 to provide health insurance for low-income, low-resource individuals. It is jointly funded by Federal and state governments and designed so that states run the program. The Affordable Care Act provided more Federal funding to states if they chose to adopt certain Federal standards.

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