Health Economics

Health insurance is a type of insurance coverage which covers the cost of insured individual medical and surgical expenses. Based up on the type of health insurance coverage, either the insured pays costs out of pocket and is then reimbursed, or the insurer can makes payments directly to the provider. Health Insurance that covers the whole or at least a part of the burden of a person incurring medical expenses, spreading the risk over a large number of persons. By calculating the overall risk of health care and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a payroll tax or monthly premium, to provide the money to pay for the health care benefits specified in the insurance agreement.