public vs private health insurance

access to public health insurance

limited to providers who ACCEPT to use the program

private health insurance

purchased from insurance companies either individually or through an employer (voluntary health insurance)

how is private health insurance funded

paid for by individuals or employers, often with subsidies for lower-income individuals through the ACA marketplace

how is public health insurance regulated

by federal and state laws

public health insurance

government funded and designed to provide coverage to specific groups

types of public health insurance

Medicare, Medicaid, CHIP, Veterans Health Administration

how is public health insurance funded

funded through taxes

eligibility for public health insurance

based on age, income, disability, or veteran status

public health insurance cost

lower or free, limited premium, deductibles, or copays

eligibility for private health insurance

available to anyone who can pay or qualify

private health insurance cost

typically higher than public insurance; premiums, deductibles, co-pays, out of pocket maximums

access to private health insurance

wider choice of providers and hospitals (depends on network (HMO/PPO) associated with plan)

how is private health insurance regulated

by state and federal laws, but insurers have significant flexibility in plan design