Private vs Public Health Care: Protecting You and Your Family

Medicine can save more lives than ever before due to amazing breakthroughs in technology. While this technology performs miracles every day, it comes with a hefty price tag. If you or someone in your household needs major surgery or has to stay in the ICU for a few days, your medical bills can easily top six figures. According to a recent news article, medical bills are the number one cause for bankruptcy.

To protect yourself and your family, you must have some type of health insurance. Anything is better than nothing. That being said, not all insurance plans are created equal. Each offers difference amounts of coverage, different premiums, and has different limitations. In this post, we will examine the two broad health care categories (public and private) in a side-by-side comparison.

Cost

Public: Public health insurance options are significantly more affordable than private plans because they are subsidized by tax dollars. This is the only way some families can afford health care.

Private: Many companies subsidize the rates for their employees to make health care affordable because individual rates can be quite high.

Coverage

Public: Public health insurance covers a large percentage of medical costs. However, it may not cover optional procedures or pay for nice upgrades like private rooms.

Private: Coverage caries for each individual health policy like USHEALTH Group. While some plans cover elective procedures with all the bells and whistles, others do not. Some plans cover 100 percent of the amount over the deductible amount while others only pay 80 percent.

Choices

Public: You will have fewer doctors to choose from if you have public health insurance. Public plans pay health care providers significantly less than private plans do, so many doctors won’t accept very many patients with this type of insurance.

Private: Depending on your policy, you may not have any limitations on which doctor you choose. Other policies require you to pick from a network of doctors. But even if you have to choose from a network, you still usually have access to more doctors than people with public health care.

Accessibility

Public: You have to meet certain criteria to qualify for public health care options like Medicare and Medicaid. Your income, age, health, health condition, disabilities, and immigration status can all prevent you from qualifying for public health care.

Private: All legal residents of the United States have access to private health insurance–as long as they can pay for it. If your company does not offer health insurance, you can still get it. You will have to pay significantly more for it, but it’s still an option. However, your age, income, and overall health may impact your premiums.

If you are dissatisfied with your health insurance, explore your options. However, do not drop your current plan until you are completely signed up for a new one. In today’s market, most people cannot afford to cover a major health crisis with no health insurance. However, inadequate coverage can also send you to bankruptcy court, so review your policy to make sure you and your family are protected.

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