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:
“Jesus would recommend you to pass the first day of the week rather otherwise than you pass it now, and to seek some other mode of bettering the morals of the community than by constraining each other to look grave on a Sunday, and to consider yourselves more virtuous in proportion to the idleness in which you pass one day in seven.”
—Frances Wright (1795–1852)