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A United States In the United States healthcare can be financed in four modes The first and oldest and most risky mode of paying for medical services was out of pocket In the first half of the twentieth century out of pocket cash payment was the most common McGraw Hill 2016 However as health services costs increased and more practical method was needed Individual private insurance is a third party mode of paying for health services Persons who sign up for individual insurance plans pay an amount towards their premium health plan and whenever health services are provided the insurance company compensates the provider Americans with these kinds of plans are still responsible for meeting their deductible and may have a copay coinsurance depending on the type of insurance plan McGraw Hill 2016 As the popularity of Private health insurance increased so did the cost of hospital care increase thus leading to a higher premium per patient
