Private Insurance Companies Definition
A private company is a firm that is privately owned.
Private insurance companies definition. There are a number of private health insurance options available. Private insurance is insurance provided through either a for profit or not for profit company rather than by the federal or state government. These health insurance plans can be bought through private health insurance companies health insurance agents or online brokers like ehealth. Insurance protection provided by non governmental sources such as private insurance companies.
Private health insurance refers to health insurance plans marketed by the private health insurance industry as opposed to government run insurance programs. What is private health insurance. Search private insurance companies and thousands of other words in english definition and synonym dictionary from reverso. Instead private health insurance is offered by a private entity such as an insurance company or broker.
Health care landscape covering more than half of the us population. Insurance coverage written by firms in the private sector of the economy as opposed to government insurers. The average cost of an individual health plan between 2006 and 2007 was 2 613 while the cost for a family of four was close to 13 000. Private health insurance is really just health insurance that isn t marketed by government run agencies.
Whether a person obtains private or public insurance their goals are usually the same. In 2007 202 million americans owned a private plan. Definition of private health insurance. Private companies may issue stock and have shareholders but their shares do not trade on public exchanges and are not issued through an ipo.
You can complete the definition of private insurance companies given by the english definition dictionary with other english dictionaries. The term private health insurance simply refers to any health insurance coverage that is not offered by a state or federal government. Private insurance is insurance that is offered by private companies as opposed to government entities. It is an alternative to public insurance.
It is a form of risk management primarily used to hedge against the risk of a contingent or uncertain loss. To receive financial protection for various types of risk. Private health insurance currently dominates the u s. This can also refer to a policy which is purchased by an individual directly from the insurer and that is not part of a group or employer backed policy.
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