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)
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