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Private Health Insurance Wiki, Difference, Definition, Examples & More

Private Health Insurance Wiki, Difference, Definition, Examples & More: Hello, Guys so if you are looking for Private Health Insurance Wiki, Difference, Definition, Examples & More than you have landed to the right place I will cover everything you’ll need.

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Private Health Insurance Wiki, Difference, Definition, Examples & More

What is Private Health Insurance?

Private Health Insurance Wiki , Difference, Definition, Examples & More

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

In Simple words, Private Health Insurance is an Insurance provided by an Individual or the private entity.

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

What is Public Health Insurance?

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

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 covered 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.

Difference between Public and Private Health Insurance

Definition:- Private Health Insurance is a type of Insurance that is marketed by Private companies, individual & more whereas 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. Public Health can be purchased at very low cost or for free whereas in private health insurance plans are paid through premium payments.

Enrol:- Public Health Insurance can be enrolled anytime you qualify whereas private health insurance has defined enrollments periods.

Coverage:- In public health insurance coverage begins the first month after the application is received 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.

 

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

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