Final answer:
The statement implies that Medicaid is a joint federal/state program that provides medical insurance to individuals with low income, not solely funded by states as the statement incorrectly suggests.
Step-by-step explanation:
The statement in question implies that Medicaid is a federal/state entitlement program that was established in 1965 under Title XIX of the Social Security Act. The program is designed to provide medical assistance to individuals with low income, including families with children, the elderly, and people with disabilities. It is incorrect to say that it is funded only by individual state governments; in fact, it is a cooperative venture with both federal and state funding, where the federal government contributes funds and each state administers the program locally, determining their own levels of benefits and eligibility requirements. As such, Medicaid varies from state to state, but ensures a basic level of coverage for those who qualify.