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 still need more healthy rest in order to work at my best. My health is the main capital I have and I want to administer it intelligently.”
—Ernest Hemingway (1899–1961)
“In taking out an insurance policy one pays for it in dollars and cents, always at liberty to discontinue payments. If, however, woman’s premium is a husband, she pays for it with her name, her privacy, her self-respect, her very life, “until death doth part.””
—Emma Goldman (1869–1940)