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.
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Famous quotes containing the word community:
“The heroes of the world community are not those who withdraw when difficulties ensue, not those who can envision neither the prospect of success nor the consequence of failure—but those who stand the heat of battle, the fight for world peace through the United Nations.”
—Hubert H. Humphrey (1911–1978)