Health insurance is an insurance that covers the whole or a part of the risk of a person incurring medical expenses, spreading the risk over a large number of persons. By estimating the overall risk of health care and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.
According to the Health Insurance Association of America, health insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment"
In Korea, Health Insurance is covered by government for everybody - meaning that is not only supported for normal people but also poor people as welfare, so Health Expenditure is relatively lower than other countries below.
For your information, even though government does not support health insurance, more than 75% of Health Insurance is covered by company in U.S.
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