Health care insurance or health insurance is a contract between a policy holder and a third-party payer or government program to reimburse the policy holder for all or a portion of the cost of medically necessary treatment or preventive care provided by health care professionals. The type and amount of health care costs that will be covered by the health insurance company are specified in advance, in the member contract.
The insurance companies are governed by laws in terms of their operations and routine functioning. This is done to ensure that they do not abuse the insured by being unreasonable.
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