Florida Life and Health Insurance License Practice Test

What is the health insurance program funded by both federal and state governments?

1. Medicare

2. Medicaid

3. CHIP

4. COBRA

The correct answer is: Medicaid

Medicaid is the correct answer because it is a joint federal and state program designed to provide health insurance coverage for low-income individuals and families. Medicare, option A, is solely funded by the federal government and provides health insurance for individuals over 65 years old or with certain disabilities. Option C, CHIP, is a state-run program that provides health coverage for children from families that do not qualify for Medicaid, but also cannot afford private insurance. Option D, COBRA, is a federal program that allows employees to continue their health insurance coverage after leaving a job, but it is not jointly funded by federal and state governments.