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:
“The sick man is taken away by the institution that takes charge not of the individual, but of his illness, an isolated object transformed or eliminated by technicians devoted to the defense of health the way others are attached to the defense of law and order or tidiness.”
—Michel de Certeau (1925–1986)
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An insurance man’s shirt on its morning run.”
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