Private vs. Public health care coverage: the pros and cons vary and deciding which is right for you depends on your health care needs, income, and lifestyle. Let’s dissect the ins and outs of selecting private insurance vs public insurance such as ACA.

What is considered private insurance?

Private health insurance is any health care coverage that is offered by a private company or entity as opposed to state or federal health care coverage, such as ACA, Medicare, CHIP, Medicaid, etc.

For the most part, private health insurance plans cover the minimum essential coverage requirements of ACA plans. Private insurance also offers more choices than public plans. Private insurance can also offer shorter wait times at doctors’ offices and medical centers, and better-specialized attention. One of the disadvantages of private health insurance can be the costs. Private plans for individuals as well as family plans are typically more costly than ACA plans. Another main difference is eligibility.

What is an ACA plan and what are the benefits?

The Affordable Care Act (ACA) is a publicly held health insurance program that offers millions of previously uninsured individuals. The pros of ACA insurance are that more Americans have access to health insurance, more screenings are covered, prescription drugs cost less, and individuals with preexisting conditions cannot be denied coverage. Depending on your income, individuals may qualify for subsidies and savings on health care costs. Read more about ways to save on health care costs under the American Rescue Plan here.

Both privately held insurance coverage and publicly held insurances like ACA have their pros and cons. It depends on the individual’s current situation. If you need help deciding which type of insurance is right for you, contact a Standard Health representative for assistance: 1-800-501-3537.

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