Which type of health insurance is classified as public insurance?

Medicare and Medicaid are classified as public insurance because they are government-funded programs designed to provide health coverage to specific populations. Medicare primarily serves individuals aged 65 and older, as well as some younger individuals with disabilities or certain diseases, while Medicaid offers assistance to low-income individuals and families, providing essential healthcare services based on financial need.

This distinction emphasizes how these programs are funded through taxpayer dollars, contrasting with private insurance plans that are often sponsored by employers or purchased individually. Public insurance programs are integral in ensuring that vulnerable populations have access to necessary medical services, thereby playing a vital role in the overall healthcare system.