Medicaid Is an Example of a Funding Program That Is

question 6

True/False

Medicaid is an example of a funding program that is considered an entitlement because when the child meets the eligibility criteria, the child is guaranteed all services covered by the program.

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Definitions:

Compensation

Payment, either in cash or kind, provided to someone in exchange for their services or to compensate for injury or loss.

Coverdell Education Savings Account

A tax-advantaged saving account designed to pay for the beneficiary's education expenses, including K-12 and higher education.

Qualified Education Expenses

Expenses required for enrollment or attendance at an educational institution, including tuition, fees, and related costs.

Retirement Plan

A retirement plan refers to financial strategies of saving, investment, and ultimately distribution of money meant to sustain an individual’s standard of living in retirement.