Health insurance

(redirected from Health insurance company)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

Health Insurance

An insurance policy that provides coverage when the policyholder (or his/her dependent) becomes ill. For example, a health insurance policy may pay for most or all of the costs of a surgery. Health insurance may cover doctor's visits, medical procedures, prescription drugs, and so forth. The policyholder pays a premium each month in exchange for the coverage; additionally, the policyholder often must pay coinsurance and/or a copay for certain procedures. In the United States, many people procure health insurance through their employers because it is often expensive to buy on one's own. Likewise, many people have group insurance to provide medical coverage. A significant amount of debate exists as to the appropriate role of the U.S. government in regulating health insurance providers and whether the government should assume this role directly.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Health insurance.

Health insurance covers some of or all the cost of treating an insured person's illnesses or injuries. In some cases, it pays for preventive care, such as annual physicals and diagnostic tests.

You may have health insurance as an employee benefit from your job or, if you qualify, through the federal government's Medicare or Medicaid programs.

You may also buy individual health insurance directly from an insurance company or be eligible through a plan offered by a group to which you belong. As you do with other insurance contracts, you pay premiums to purchase coverage and the insurer pays some of or all your healthcare costs, based on the terms of your contract.

Some health insurance requires that you meet an annual deductible before the insurer begins to pay. There may also be coinsurance, which is your share, on a percentage basis, of each bill, or a copayment, which is a fixed dollar amount, for each visit.

Health insurance varies significantly from plan to plan and contract to contract. Generally, most plans cover hospitalization, doctors' visits, and other skilled care. Some plans also cover some combination of prescription drugs, rehabilitation, dental care, and innovative therapies or complementary forms of treatment for serious illnesses.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
We spend a lot of time at Fallon Clinic explaining to people what we are not (a health insurance company); so I am happy to have the opportunity here to definitively explain what Fallon Clinic is: We are a group of dedicated doctors, nurses and other health care professionals who every day carry out an 82-year mission of caring for people in Worcester County and beyond.
While it seems to me that the mysterious health insurance company was wasting the money it paid for my focus group, it's their money to waste.
For example, when United HealthCare, the nation's second-largest health insurance company, announced last October that it was abandoning 59,000 Medicare beneficiaries in 12 states, United's chief medical officer explained, "The revenue from HCFA was not high enough..." The news media has obediently passed this rationale on to the public without reminding us of the HMO subsidy.
Empire Blue Cross and Blue Shield, New York State's largest health insurance company, will relocate from its former headquarters at 622 Third Avenue, starting in fall 1998.
The law protects consumers with health insurance from receiving balance bills from air ambulances, prohibits air ambulance subscription agreements from being sold and requires hospitals to inform patients in non-emergency situations about which air ambulances have contractual agreements with the patient's health insurance company so patients can make informed decisions about which air ambulance company they should use.
###M/s EFU Alliance Health Insurance Company Limited###4
The two firms have partnered to form a health insurance company called Wisconsin Collaborative Insurance Company.
The National Health Insurance Company (NHIC) has announced that its call centre is working 24/7 to allow members of the National Health Insurance Scheme (Seha) to engage and communicate with the company on its toll free number 8008800.
Summary: Daman, the National Health Insurance Company, has launched its new range of individual health insurance plans designed exclusively for the residents of Dubai and the Northern Emirates.
Prior to that, he was executive vice president of AIU's property/casualty and accident and health insurance company in Japan.
Abu Dhabi Health officials are urging the hundreds who have not renewed their National Health Insurance Company (Daman) policy, to do so by July 27.

Full browser ?