Community rating is a concept usually associated with health insurance, which requires health insurance providers to offer health insurance policies within a given territory at the same price to all persons without medical underwriting, regardless of their health status.
Pure community rating prohibits insurance rate variations based on demographic characteristics such as age or gender, whereas adjusted or modified community rating allows insurance rate variations based on demographic characteristics such as age or gender.
Read more about Community Rating: Concept, Occurrence
Famous quotes containing the word community:
“He thought that, because the community represents millions of people, therefore it must be millions of times more important than the individual, forgetting that the community is an abstraction from the many, and is not the many themselves.”
—D.H. (David Herbert)