Private insurance, also called commercial insurance, is an individual or group plan offered by privately owned health insurance companies, rather than public, government-run programs. These vary greatly from company to company.

Private insurance includes plans employers provide to employees. The plans usually are contracted through a private health insurance company. Some employers provide a self-funded plan, in which the employer or a union pays for employees’ or members’ health care expenses directly, acting as the insurer and carrying the financial risk.

Private insurance also includes plans people can buy directly from an insurance company or through a health insurance marketplace. Marketplace plans guarantee certain protections, including a minimum level of coverage for key services called essential health benefits. Marketplace plans can’t discriminate against you for having a pre-existing condition or limit your yearly benefits. Health insurance marketplaces, sometimes known as Obamacare, were established through the Affordable Care Act.

With a marketplace plan, you might qualify for financial assistance, depending on your income and other factors. When you apply for health insurance through a health insurance marketplace, you will be screened automatically for Medicaid and Children’s Health Insurance Program eligibility.

Medicare provides health insurance coverage, typically for people 65 and older, regardless of income level. People who have received Social Security Disability assistance payments for a certain amount of time (usually two years) also can receive Medicare. Medicare coverage falls into four categories: Parts A, B, C or D. Medicare is run by the federal government.

Medicaid provides health insurance coverage to people with low incomes. Each states’ guidelines for eligibility and covered services differ slightly. Some states cover most residents whose income falls below a certain threshold. Other states limit eligibility only to low-income residents who are disabled, elderly, pregnant or have children. Medicaid programs are administered by states but receive federal funding. Medicaid program names vary by state and sometimes don’t include “Medicaid” in the name, such as Medi-Cal in California and TennCare in Tennessee.

Children’s Health Insurance Program, or CHIP, is a state-run program that works similarly to Medicaid. CHIP provides low-cost health insurance coverage for children whose families earn too much to qualify for regular Medicaid coverage but can’t afford private health insurance. If you have a child and need help finding health insurance, visit Insure Kids Now to learn about free and low-cost health insurance resources.

Military plans are federal government-funded programs for people connected with the U.S. military.

TRICARE is the Department of Defense’s managed health care program for active-duty military, personnel, retirees and their families.

Veterans Affairs is responsible for providing federal benefits to veterans and their dependents. The VA provides coverage for basic and preventative care.

CHAMPVA is a health benefit program for the families of veterans with 100% service-connected disability and surviving spouses or children of veterans who die from service-connected disabilities. The VA determines eligibility and processes CHAMPVA claims.