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:
“No one ever promised me it would be easy and it’s not. But I also get many rewards from seeing my children grow, make strong decisions for themselves, and set out on their own as independent, strong, likeable human beings. And I like who I am becoming, too. Having teenagers has made me more human, more flexible, more humble, more questioning—and, finally it’s given me a better sense of humor!”
—Anonymous Father. Ourselves and Our Children, by Boston Women’s Health Book Collective, ch. 4 (1978)
“For there can be no whiter whiteness than this one:
An insurance man’s shirt on its morning run.”
—Gwendolyn Brooks (b. 1917)