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:
“Our young people are diseased with the theological problems of original sin, origin of evil, predestination, and the like. These never presented a practical difficulty to any man,—never darkened across any man’s road, who did not go out of his way to seek them. These are the soul’s mumps, and measles, and whooping- coughs, and those who have not caught them cannot describe their health or prescribe a cure. A simple mind will not know these enemies.”
—Ralph Waldo Emerson (1803–1882)
“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)