The agreement between you and a private health insurance provider stipulates that the insurer must cover all or part of your medical costs as long as you pay your premiums. Public health insurance is defined as coverage offered by the federal or state governments.

Medicare, Medicaid, and the Children’s Health Insurance Program (CHIP) are examples of public health insurance programs. Companies that provide private health insurance may also provide private plans in conjunction with Medicare and Medicaid. Medicare Advantage and Medicaid managed care plans are the names given to these kinds of plans.