Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care expenses among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is available to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.
Read more about Health Insurance: Background, Comparison, Standards of Hospitals and Clinics Used By Insurance Companies
Famous quotes containing the words health and/or insurance:
“I am astonished at the singular pertinacity and endurance of our lives. The miracle is, that what is is, when it is so difficult, if not impossible, for anything else to be; that we walk on in our particular paths so far, before we fall on death and fate, merely because we must walk in some path; that every man can get a living, and so few can do anything more. So much only can I accomplish ere health and strength are gone, and yet this suffices.”
—Henry David Thoreau (1817–1862)
“In taking out an insurance policy one pays for it in dollars and cents, always at liberty to discontinue payments. If, however, woman’s premium is a husband, she pays for it with her name, her privacy, her self-respect, her very life, “until death doth part.””
—Emma Goldman (1869–1940)