health insurance

noun

|Updated on: 15 Aug 2018

Definition of health insurance

: insurance against loss through illness of the insured; especially : insurance providing compensation for medical expenses

Recent Examples of health insurance from the Web

Ward wants Obamacare replaced with a program with Medicare block grants to the states, special insurance pools for citizens with pre-existing conditions and to allow people to shop for health insurance across state lines.

— steven lemongello, OrlandoSentinel.com, "Congress District 6: Where 6 candidates stand on issues," 13 July 2018
Each state will receive a minimum of $100,000 for eligible groups that help people sign up for health insurance.

— ken alltucker, USA TODAY, "Trump administration slashes funding for Obamacare outreach program," 10 July 2018
According to a government report, about 1 million people appear to have been priced out of the market for health insurance last year.

— margot sanger-katz, BostonGlobe.com, "About 1m Americans were priced out of health insurance market last year, report says," 3 July 2018
The law remade the market for health insurance sold to people who don’t get coverage through an employer or a government health plan.

— guy boulton, Milwaukee Journal Sentinel, "Health insurers file suit for billions of dollars from federal government over Affordable Care Act commitments," 2 July 2018
This misconception is due in large part to the employer tax exemption for health insurance, which conceals the true cost of coverage from most workers.

— joel klein, WSJ, "The IRS Can Save American Health Care," 1 July 2018
Employees who work more than 25 hours a week are eligible for health insurance.

— katherine feser, Houston Chronicle, "Aldi hosts hiring fairs at several stores," 25 June 2018
Both unions also will have to pay more for health insurance.

— adam ferrise, cleveland.com, "Cleveland agrees to three-year contract with police union after two years of negotiations," 14 May 2018
The district's initial offer does not include a proposal for the union's health insurance.

— tegan hanlon, Anchorage Daily News, "Hundreds of Anchorage teachers rally as contract battle continues," 8 May 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'health insurance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of health insurance

1901

in the meaning defined above

See Words from the same year

NEW! Time Traveler

Financial Definition of HEALTH INSURANCE

health insurance

noun

What It Is

Health insurance is insurance that covers some or all of the costs of an individuals healthcare.

How It Works

Health insurance absorbs or offsets healthcare costs associated with, but not limited to, routine health examinations, specialist referral visits, inpatient and outpatient surgery, unforeseen eventualities such as illnesses or injuries, and prescription medication. Health insurance policies are categorized as privately paid for by an individual, publicly provided as a service through Social Security, or commercially arranged by a company as part of an employee benefit package.

Broader levels of health insurance coverage generally have higher premium costs. In many cases, the insured party is responsible for paying his/her healthcare provider an up-front, tax deductible amount called co-pay. Health insurance companies then may compensate healthcare providers directly or reimburse the policy holder based on the remaining portion of an itemized bill.

Why It Matters

Health insurance primarily protects individuals from the prohibitively high costs of surgical procedures, inpatient hospital care, and emergency attention. Though health insurance itself can become costly for a family, it is only a small fraction of the potential costs associated with unforeseen illnesses and emergencies (for example, the diagnosis and treatment of cancer or a heart attack).

Source: Investing Answers

Medical Dictionary