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The word is usually used to describe a form of insurance that pays for medical expenses. It is sometimes used more generally to include insurance covering disability or long-term care or custodial care needs. Target groups or individuals pay premiums or taxes to protect against high or unexpected healthcare costs. Health insurance works by estimating the overall risk of healthcare expenses and the development of routine financial structure (such as a monthly premium or annual tax) that the money is safe is available to pay health benefits specified in the insurance contract. i, e: Home Insurance Life Insurance California, California.
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