curious asked: "What's the difference between Obamacare and Medicare?"
Basically, traditional Medicare (not Medicare Advantage) is health insurance provided by the government. Obamacare is health insurance that you buy from an insurance company, or get from your employer.
Zirpto asked: "Does Obamacare have any such waiting period for pre-existing conditions like the Medigap policies? Or is there coverage for those conditions on Day One?"
Under Obamacare there is no waiting period for coverage of pre-existing conditions. "Coverage for your pre-existing conditions begins immediately."
See the following on the HealthCare.gov web site for more information about pre-existing conditions under Obamacare.
What if I have a pre-existing health condition?
If your income is under $15,000 even if you are single you may qualify for Medicaid if you state participates in the Medicaid expansion.
, TAS Manager-CPATurboTax TaxPro
Medicare is "the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease."
Medicare is considered a qualifying plan under the new health law. If you have Medicare you're not required to purchase insurance through an exchange.
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