Define: Health Insurance

UK Accounting Glossary

Definition: Health Insurance



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Full Definition of Health Insurance


Health insurance is a type of indemnity that provides financial protection against instances of injury or sickness by covering healthcare costs. There are many types of health insurance, offering different healthcare plans. Health insurance may offer hospital expense coverage, surgery expense coverage, as well as disability income insurance. Likewise, health insurance can help cover the costs of routine medical treatment, such as vision care, dental plans, and prescription drug plans. Depending on the policy, some health insurance plans require co-payments for certain medical procedures, treatments, and prescription drugs. Health insurance can be purchased directly from health insurance carriers, life insurance companies, or from insurance brokers. In addition, health insurance is frequently offered by companies to employees as a form of compensation.


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Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/health-insurance/
Modern Language Association (MLA):
Health Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 03, 2020 https://payrollheaven.com/define/health-insurance/.
Chicago Manual of Style (CMS):
Health Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/health-insurance/ (accessed: April 03, 2020).
American Psychological Association (APA):
Health Insurance. PayrollHeaven.com. Retrieved April 03, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/health-insurance/

Definition Sources


Definitions for Health Insurance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th February 2020.