What kind of insurance is typically provided by an employer or purchased individually?

Private insurance is typically provided by employers as part of employee benefits or can be purchased individually by individuals seeking coverage. This type of insurance is offered by private companies and usually requires monthly premiums, along with out-of-pocket costs like deductibles and copayments. Private insurance plans can vary widely in terms of coverage, costs, and benefits, allowing individuals to choose options that best meet their health needs and financial situation.

Understanding private insurance is crucial because it provides the majority of the coverage in many countries, including the United States. It allows flexibility and choice while often achieving a faster service than public systems, thus catering to personal preferences in healthcare provision.