Health insurance protects us from depletion of financial resources due to medical emergencies. It is available in different forms from different insurance companies. The benefits available under various plans differ depending on the age of the beneficiary, the cost of the insurance, and the type of health service provider.
In bids to cut costs and increase competitiveness, employers are reducing the benefits they offer to employees. As a result, employees are sharing more and more of the costs of health insurance benefits provided by employer-sponsored health insurance.
It would be hard to imagine any corporation or business entity without an insurance program, or risk management as it is sometimes known. The only differences are essentially those dictated by the varying needs of the organization and the number of persons necessary to accomplish the individual company's objectives.