Health insurance
By combining or pooling the risks of many people into a
single group, insurance can make the financial risks associated with health
care more manageable. Experts can reasonably predict the health care costs of a
large group, even thought they cannot know in advance how much health care will
be required by any given individual. Through insurance, each person who
buys converage agrees to pay a share of the group’s tottal losses in
exchange for a promise that the group will pay when he or she needs services.
Essentially , individuals make reguler payments to the plan rather than having
to pay especially large sums at any one time in the even of sudden illnes or
injury. In this way,the group as a whole funds expensive treatments for some
people who need them
No comments:
Post a Comment