Medical economics

Health insurance premiums dropped? Not so fast

The latest Consumer Price Index report showed inflation slowing in October, due in part to a supposed 34% drop in the cost of health insurance from the same time last year. That left many people scratching their heads, since ...

Medical economics

Buying your own health insurance just got way less expensive

Tens of millions of Americans will find it substantially more affordable to buy their own health insurance starting this month, thanks to generous financial help included in the American Rescue Plan Act (ARPA) signed by President ...

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Insurance

Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

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