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, Buddha, Mahommed, great as each may be, their highest comfort given to the sorrowful is a cordial introduction into another’s woe. Sorrow’s the great community in which all men born of woman are members at one time or another.”
—Sean O’Casey (1884–1964)