Final answer:
Kaiser Permanente was founded in the 1930s to provide low-cost insurance and revolutionized healthcare coverage with their prepaid model. Germany was the first country to provide health insurance for workers, and Medicare is the public healthcare system that offers insurance primarily to people over sixty-five years old.
Step-by-step explanation:
The insurance company founded in the 1930s to provide low-cost insurance was Kaiser Permanente. Henry J. Kaiser and Dr. Sidney Garfield established Kaiser Permanente during the construction of the Grand Coulee Dam, initially to provide healthcare for the dam workers.
Over time, it expanded to serve the general public.
The idea of providing affordable and pre-paid health care coverage was innovative for its time and has grown significantly throughout the last century.
In comparison to the early health insurance model provided by Flint Goodridge Hospital in New Orleans in 1936, which offered low-cost or free clinics and had a low-cost insurance program for working-class African Americans, Kaiser Permanente was formed around a similar beacon of innovation and affordability during that era.
It is notable that the first country to provide health insurance for workers was Germany, and the public healthcare system that primarily offers insurance to people over sixty-five years old is Medicare.
In modern times, the Patient Protection and Affordable Care Act, also known as Obamacare, seeks to provide all Americans with access to affordable health insurance and addresses issues like adverse selection by mandating that everyone acquire some form of health insurance.