Health Insurance Definition

Insurance against loss by illness or bodily injury. Health insurance is an insurance that covers the whole or a part of the risk of a person incurring medical expenses spreading the risk over numerous persons by estimating the overall risk of health risk and health system expenses over the risk pool an insurer can develop a routine finance structure such as a monthly premium or payroll tax to provide the money to pay for the health care. A health insurance system that is organized and administered by an insurance company or other private agency with the provisions specified in a contract is known as private or voluntary health insurance.

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Private health insurance is usually financed on a group basis but most plans also provide for individual policies.

Health insurance definition - Commercial health insurance which is provided by many different companies. Disease management programs can help control health. Private noncommercial health insurance which is provided by blue cross and blue shield.

Health insurance synonyms health insurance pronunciation health insurance translation english dictionary definition of health insurance. A plan that covers or shares the expenses associated with health care. Insurance providing compensation for medical expenses.

Policies differ in what they cover the size of the deductible and or co payment limits of coverage and the options for treatment available to. These plans fall into three classifications. Health insurance definition is insurance against loss through illness of the insured.

Your health insurance deductible is the amount you pay before your insurance plan s benefits begin. A program offered by a health insurance company to manage the costs of policyholders chronic health conditions. Insurance against expenses incurred through illness of the insured.

Health insurance provides coverage for medicine visits to the doctor or emergency room hospital stays and other medical expenses. And social insurance which is provided by. High deductible health plans carry higher deductibles but they can offer access to health.