Question

Both the federal and state governments jointly finance which health insurance entitlement program?

A) Medicaid
B) Medicare
C) CHIP (Children's Health Insurance Program)
D) ACA (Affordable Care Act)

Answer 1

Medicaid is a joint health insurance program financed by both federal and state governments, providing coverage to low-income individuals, families, elderly, and disabled people while varying across states in services and eligibility requirements.

Step-by-step explanation:

Both the federal and state governments jointly finance the health insurance entitlement program known as Medicaid. Created by Congress in 1965, Medicaid is a crucial program providing medical insurance for certain low-income individuals, including those below the poverty line, and focuses on aid for families with children, the elderly, and the disabled. While the federal government funds a significant portion of Medicaid, each state administers its program, determining both the level of benefits and eligibility, leading to variations in services and requirements across the states.