Private health insurance refers to health insurance that you acquire on your own – not through your employer or a spouse’s employer.
You typically pay premiums for private health insurance through a direct withdrawal from your financial institution or using a credit card.
Group health insurance is usually paid for by your employer, or the cost is shared with your employer, with your premium payments made through payroll deduction.
If you have health insurance through your employer and your employment ends, you may be offered the opportunity to maintain your group health insurance coverage using COBRA. However, some individuals find paying the full COBRA premium is expensive. It may be more affordable to switch to an individual, private health policy, which you can purchase on your own.