social insurance

  

Definition

Form of compensation provided and controlled by a government for elderly, disable, or unemployed people. Acceptance in a social insurance program is not guaranteed and individuals seeking to be covered have to meet certain requirements. Social insurance may come in the form of healthcare of monetary compensation. In terms of social insurance programs geared toward healthcare, they typically include a network of doctors and hospitals that agree to see individuals covered under this type of plan. These providers are compensated by the government for their services. Medicaid, Medicare, and unemployment compensation are all examples of social insurance programs in the United States.

Use social insurance in a sentence

  • You should try and get some social insurance on your side in case something goes wrong and you need it to survive.

    4 people found this helpful
  • You should try to have good social insurance in your workplace so that everyone can be more free to speak their mind.

    2 people found this helpful
  • I needed some social insurance because I liked to have all kinds of insurance in case something happened to me.

    2 people found this helpful
Show more usage examples...

Related Videos




http://www.businessdictionary.com/definition/social-insurance.html

Have a question about social insurance? Ask for help in the
Community
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z