Universal Health Care Coverage

AAA

DEFINITION of 'Universal Health Care Coverage'

An organized healthcare system that provides healthcare benefits to all persons in a specified region. Many countries, such as Canada and Germany, provide universal coverage to all of the country's inhabitants, meaning that all residents are covered for basic healthcare services. In addition, an individual cannot be denied healthcare as long as he or she is a legal resident of the country that offers the universal coverage.


Also called universal healthcare, or just universal coverage.

INVESTOPEDIA EXPLAINS 'Universal Health Care Coverage'

As with any type of insurance, there are a large group of payers, and only a few need a large amount of money quickly at any given time. The more contributors there are, the lower the payments are. The United States is the world's only wealthy, industrialized nation that does not have healthcare accessible to all members of society through a universal coverage program.


Opponents have criticized this program over concerns that it would raise taxes, but proponents argue that it would provide healthcare to more individuals and decrease instances of bankruptcy due to medical costs.

RELATED TERMS
  1. Group Universal Life Policy - GULP

    Universal life insurance that is offered to on a group basis, ...
  2. Newly Industrialized Country - ...

    A term used by political scientists and economists to describe ...
  3. Group Health Insurance Plan

    An insurance plan that provides healthcare coverage to a select ...
  4. Healthcare Sector

    A category of stocks relating to medical and healthcare goods ...
  5. Health Insurance

    A type of insurance coverage that pays for medical and surgical ...
  6. Medical Identity Theft

    Stealing another person’s health insurance information so that ...
Related Articles
  1. Home & Auto

    Selecting The Right Mix Of Insurance Benefits

    Choosing employee benefits involves weighing the probability you will need them against taxes and cost.
  2. Home & Auto

    How To Avoid Medical Debt

    Find out what you can do to avoid a financial meltdown when there's a medical emergency.
  3. Options & Futures

    What's The Difference Between Medicare And Medicaid?

    One program is for the poor; the other is for the elderly. Learn which is which.
  4. Insurance

    Find Secure And Affordable Post-Work Health Insurance

    Learn how you can avoid financial catastrophe - without Medicare.
  5. Insurance

    Who are the best-rated life insurance companies in the US?

    Learn about what makes an insurance company the best. Read about the best life insurance companies in the U.S. in 2014, following ratings by Weis.
  6. Insurance

    What are some examples of when insurance bundling is a bad idea?

    Learn about situations where insurance bundling may not be a favorable option. Bundling insurance is often a good idea, but there are times when it isn't.
  7. Investigate these expat havens if you seek a developed country with low barriers for getting a permanent resident visa – sometimes even citizenship.
    Personal Finance

    5 Developed Countries That Welcome Expats

    Investigate these expat havens if you seek a developed country with low barriers for getting a permanent resident visa – sometimes even citizenship.
  8. Free enterprise is the economic term used to describe an economy with very little government ownership.
    Economics

    What's Free Enterprise?

    Free enterprise is the economic term used to describe an economy with very little government ownership or regulation. In a free enterprise system, competition and the preferences and choices ...
  9. Some countries put up very high barriers for foreigners to get citizenship
    Personal Finance

    5 Countries Where It's Hardest To Become A Citizen

    The United States is one of five countries that put up very high barriers for foreigners to get citizenship. Here's how it compares to the other four.
  10. Thanks to the Affordable Care Act, you can no longer be denied health insurance for having a pre-existing or chronic medical condition.
    Insurance

    Choosing A Health Plan For Your Chronic Illness

    Thanks to the Affordable Care Act, you can no longer be denied health insurance for having a pre-existing or chronic medical condition.

You May Also Like

Hot Definitions
  1. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  2. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  3. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  4. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  5. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  6. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
Trading Center