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 think that carrying a baby inside of you is like running as fast as you can. It feels like finally letting go and filling yourself up to the widest limits.”
—Anonymous Mother. Ourselves and Our Children, by Boston Women’s Health Book Collective, ch. 2 (1978)
“For there can be no whiter whiteness than this one:
An insurance man’s shirt on its morning run.”
—Gwendolyn Brooks (b. 1917)