What is the meaning of private insurance?
The word "private" is used to describe any health insurance plan that is not run by the federal or state government. Private insurance can be purchased from a variety of sources: your employer, a state or federal marketplace, or a private marketplace.
What is an example of private insurance?
Private health insurance is primarily funded through benefits plans provided by employers. Examples include: Blue Cross and Blue Shield health insurance companies. Non-Blue commercial health insurance companies.
What is the difference between public and private health insurance?
Private health insurance plans are generally more expensive, but potentially more comprehensive and customizable. Public health insurance plans are less expensive due to federal government assistance, but may be less comprehensive than you'd like due to certain limitations or restrictions.
What is the difference between private and group insurance?
Health insurance provided to employees by an employer or by an association to its members is called group coverage. Health insurance you buy on your own—not through an employer or association—is called individual coverage. Those are the basics.