It will be a bigger burden for those on low incomes to take out health care insurance. Health Care is a Merit Good. A healthcare system requires well-trained and well-paid professionals, a proper financial mechanism, and go… Private Health Insurance Costs More than Public Health Insurance Though private health insurance is really beneficial, it still has some … Private Health Insurance Creates Inequality Some doctors, nurses, and other industry providers ear… These services are provided by healthcare professionals who are formally trained. An Disadvantages: 1. Unfortunately when health care insurance is privatized the healthcare... 3. While the US government might be saving a marginal... 2. 1. The economic cost of universal health care is less than free-market systems. Those on low... 2. Although the United States Government could be saving a lot of money by having a private health system, Americans are paying more for healthcare coverage than they would typically pay in a public system. For instance, doctors, surgeons, physicians, nurses, and psychologists are some examples of healthcare professionals or providers. Positive Externalities. On the one hand, private health care is fraught with some considerable downsides. With private healthcare you often have the option of choosing when you will be treated. Many individual policies can cost several hundred dollars a month, and family coverage can be even higher. Disadvantages of private health insurance As you might expect, the greatest disadvantage of private health insurance can be the cost. When there is a universal health care system in place on a national level, then the administrators of that plan can leverage the size of their coverage pool to limit the cost of doctor visits, prescription medication, and specialist services. More people equate to an improved pricing structure that is based on the value of care given instead of the total number of services offered to a patient. Healthcare is the service of providing medical aid for the purpose of maintenance or improvement of health. 1. Inequality. This is especially true if you are in poor health and do not have access to group coverage of any kind. Higher Costs. People may forget, be unwilling or be unable to take out private health care insurance. 3. Those who don’t get private insurance through an employer will spend even more. First, Some private medical institutions are not without the existence of unqualified practitioners and untrained nurses. More Flexibility More Money. Countries with government controlled healthcare often have the problem of long waiting lists for doctors—depending upon the treatment that is needed.

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