What is Private Health Insurance?
Private health insurance is the most common form of health coverage for Delray Beach residents. This article will explain the key points and how it is different from public health insurance. Choosing a plan can seem a bit overwhelming, we are here to help guide you and show you what options are available. This easy to follow guide should clear up some of the most common questions you might have about individual health insurance.
A simple explanation of what private health insurance is
Any plan purchased through a private company or broker versus the state and federal government is considered private health insurance. More than half of U.S. citizens receive this type of coverage from their employer. You can also purchase coverage on your own. Most of these plans meet the minimum requirements set forth by the Affordable Care Act (ACA).
Another term you often hear on this topic is off-exchange. This simply refers to individual major medical coverage purchased through a private entity. These plans follow ACA guidelines and are QHP certified. Qualified Health Plan certification means that there are at least three types of plans offered; a Gold Plan, Silver Plan, and a Child-Only Plan. They must also meet or exceed the ACA guidelines for major medical coverage.
The difference between private and public health insurance
Public health insurance is coverage that is either subsidized or paid entirely through government funding. Private health insurance is paid for entirely by you or partially – with the rest being paid by your employer.
Public coverage comes in many different forms and is funded at the federal, state, or local level.The most common examples of public coverage are:
- Medicare
- Medicaid
- (CHIP) Children’s Health Insurance Program
- (VA) Veteran’s Administration
- (IHS) Indian Health Service
While anyone can purchase private coverage, there are certain criteria you must meet to be eligible for public health insurance. Your income and age are the primary factors that determine eligibility. Low income families, children, and individuals qualify as well as people with disabilities and the elderly. The easiest way to determine if you are eligible is to contact a licensed agent. They can walk you through the process and help you find the best plan for you and your family. If you do not qualify, they can still help you find the perfect private health insurance plan that fits your every need.
Contact Delray Beach Health Insurance Today
For over 25 years we have been proudly offering health insurance advice and coverage to South Florida residents. We provide services from Fort Lauderdale to Deerfield Beach, to West Palm Beach for individualis, groups, and families. Call our Delray Beach office at (561) 376- 5673 or click here to get a free quote.
