page contents My title page contents

Difference between Public and Private Health Insurance Companies

Difference between Public and Private Health Insurance Companies: Hello, are you searching on detailed info on private and public Health Insurance than you landed to the right place.

Don’t worry even though you may not have heard about this before I’ll try to explain in pretty simple and easy way.

so, let’s begin with understanding what actually is Private Health Insurance?

As the word private suggest, Private Health Insurance is a type of Insurance that is marketed by Private companies or individual.

Private Health Insurance can be purchased from the variety of sources like your employer, a State or Federal marketplace, or the private companies etc.

Similarly, Talking about Public Health Insurance it’s just the opposite of private health insurance.

Private health insurance is provided by an individual or a private entity

Vice-versa Public health Insurance is provided by the state-run government.

The best example of public health insurance is Medicaid.

Difference between Public and Private Health Insurance

Definition:- Private Health Insurance is a type of Insurance that is marketed by Private companies, individual & more.

Public Health Insurance it’s just the opposite of private health insurance.

Public health Insurance is provided by the state-run government the best example of public health insurance is Medicaid.

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………

Cost:- Private Health Insurance is Costlier than Public Insurance.

The private companies main motive is to make profit so it is costlier than public companies.

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………….

Enrol:- In Public Health Insurance you can enrol anytime after you qualify whereas  private health insurance has defined enrollments periods.

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………….

Coverage:- In public health insurance coverage begins the first month after the application you receive whereas in private health insurance coverage begin dates may vary.

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………….

Providers:- Public Health Insurance is provided by governments whereas private health insurance is provided by private companies, employers, etc.

Public and Private Health Insurance Examples

Medicaid and Child Health Plan Plus (CHP+)  is the best example of Public Health Insurance.

Medicaid is the State-run government insurance and its main motive is to provide insurance to low-income group.

Similarly Child Health Plan Plus (CHP+) it’s main motive is to provide very cheap or free Health insurance to children.

Another popular example of Public Health Insurance is medicare its main motive is to provide health insurance to senior citizens who are not cover by private health insurance.

Talking about The examples of private health insurance, any insurance provider other than the government is private health insurance provider. an example could be doctors, hospitals, employers etc.

I hope you Enjoyed this article…Still, any Confusion persists please feel free to comment below 🙂

Read Next: List of Car Insurance Companies in New York | History & More

                     Cheapest Car Insurance in Dubai

                         Best Car Insurance Companies In Canada

Leave a Reply

Your email address will not be published. Required fields are marked *