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:
“To get time for civic work, for exercise, for neighborhood projects, reading or meditation, or just plain time to themselves, mothers need to hold out against the fairly recent but surprisingly entrenched myth that good mothers are constantly with their children. They will have to speak out at last about the demoralizing effect of spending day after day with small children, no matter how much they love them.”
—Wendy Coppedge Sanford. Ourselves and Our Children, by Boston Womens Health Book Collective, introduction (1978)
“For there can be no whiter whiteness than this one:
An insurance mans shirt on its morning run.”
—Gwendolyn Brooks (b. 1917)