DEFINITION of 'Health INSURANCE'

DEFINITION of 'Health Insurance'

A type of insurance coverage that pays for medical and surgical expenses that are incurred by the insured. Health insurance can either reimburse the insured for expenses incurred from illness or injury or pay the care provider directly. Insurance against loss by illness or bodily injury. Health insurance provides coverage for medicine, visits to the doctor or emergency room, hospital stays and other 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 the policyholder. Health insurance can be directly purchased by an individual, or it may be provided through an employer. Medicare and Medicaid are programs which provide health insurance to elderly, disabled, or un-insured individuals. There are a number of companies which provide private health insurance, including Blue Cross, United Healthcare, or Aetna. Health insurance is often included in employer benefit packages as a means of enticing quality employees.

1STCONSULTANT MEANING 'Health Insurance'

The expense of health insurance premiums is deductible to the payer, and banquet got are sans assessment. Health insurance has numerous cousins, for example, inability insurance, basic (catastophic) ailment insurance and long haul care (LTC) insurance.