Health insurance is a type of insurance coverage that covers the cost of an insured individual’s medical and surgical expenses.
There are two main types of health insurance:
- Private Health Insurance
- Public or Government Health Insurance
According to The Centers for Disease Control and Prevention (CDC), U.S. healthcare system relies heavily on private health insurance. In the National Health Interview Survey, researchers found that 65 percent of people under the age of 65 years in the U.S. have a type of private health insurance coverage.
In public or government health insurance, the state subsidizes healthcare in exchange for a premium. Medicare, Medicaid, the Veteran’s Health Administration, and the Indian Health Service are examples of public health insurance in the U.S.
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