True or False: Medicaid is based off of income and assets.

The statement that Medicaid is based off of income and assets is true. Medicaid is a government program that provides health coverage to eligible low-income individuals and families, and its eligibility criteria are primarily determined by financial circumstances. This includes an assessment of both income and assets to ensure that individuals meet the thresholds set by Medicaid regulations.

To qualify for Medicaid, applicants must demonstrate that their income is below a certain level, which can vary by state and household size. Additionally, there are limits on the value of assets that an individual can own while still qualifying for Medicaid. These factors are crucial as they ensure that assistance is directed towards those who truly need it, particularly the low-income population.

In contrast, the other options fail to accurately capture the conditions under which Medicaid functions. Medicaid does not solely limit its criteria to seniors or base eligibility strictly on age, as it is designed to assist a broader demographic, including families with children, pregnant women, and individuals with disabilities, depending on the state. Thus, eligibility hinges significantly on financial needs rather than solely on specific age categories.