What is the difference between private and public health insurance?
Understand the Problem
The question is asking for the differences between private and public health insurance, highlighting key characteristics of each type. It presents multiple-choice options that outline various distinctions, prompting a comparison of their fundamental qualities.
Answer
Private insurance is premiums paid by individuals or their employers whereas public insurance is run by tax payers money.
Private insurance is premiums paid by individuals or their employers whereas public insurance is run by tax payers money.
Answer for screen readers
Private insurance is premiums paid by individuals or their employers whereas public insurance is run by tax payers money.
More Information
Private insurance is provided by private companies with plans often selected based on individual needs. Public insurance is government-operated, aiming to provide universal coverage funded by taxes.
Tips
A common mistake is assuming public insurance is completely free; it is taxpayer-funded, not out-of-pocket-free for users.
Sources
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