Health insurance typically provides coverage for health care procedures such as physician visits, surgeries, hospital stays, pharmaceuticals, and other expenses associated with health-related services. While it is usually not possible to ensure the health of an individual (due to physiological processes such as aging or random variation in disease formation), health insurance may be viewed as protection from the financial costs of health care. With rising prices for health care over time (largely due to technological advancements) and uncertainty over individual health, the need for health insurance has become essential for those seeking health care services. Much of the variation across countries’ arrangements for health insurance coverage reflects differences in whether access to health care is considered an inalienable right or subject to market conditions ...

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