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.

BREAKING DOWN '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. Healthcare Sector

    A category of stocks relating to medical and healthcare goods ...
  2. Coordination Of Coverage

    A review or modification of an individual's or business’ insurance ...
  3. Coincidental Excess Coverage

    Insurance coverage that provides excess coverage for a specified ...
  4. Group Term Life Insurance

    A type of insurance coverage offered to a group of people. This ...
  5. First Dollar Coverage

    An insurance policy feature that provides full coverage for the ...
  6. Prior Acts Coverage

    A feature of an insurance policy that extends the coverage of ...
Related Articles
  1. Financial Advisor

    6 Reasons Healthcare Is So Expensive in the U.S.

    Here's why America's healthcare still ranks low among developed countries.
  2. Financial Advisor

    Helping Clients Manage Future Healthcare Costs

    As healthcare costs continue to skyrocket, here's how financial advisors should be helping clients to manage the costs.
  3. Retirement

    Planning for Healthcare Costs in Retirement

    Healthcare often is the highest cost during retirement. Here's how to plan for and possibly buck that trend.
  4. Retirement

    Planning for Healthcare Costs in Retirement

    Healthcare often is the highest cost during retirement. Here's how to plan for and possibly buck that trend.
  5. Retirement

    Managing Healthcare Costs in Retirement

    Following these steps can increase your ability to adequately cover retirement healthcare costs.
  6. Investing

    Healthcare Stocks: A Prescription for More Gains?

    There could be even more room for gains in healthcare sector stocks, as many of the bullish trends remain in place.
  7. Insurance

    The Drawbacks Of Single-Payer Healthcare

    Universal healthcare has many benefits, but if there's no such thing as a free lunch, then in what ways are single-pay citizens paying for their "free" healthcare?
  8. Insurance

    Save Money on Healthcare: These Tools Can Help

    Innovative tools that let you shop around for lower-cost medical procedures are helping people save money on healthcare.
  9. Insurance

    Health Insurance: Paying For Pre-Existing Conditions

    If you bring a pre-existing condition to a new insurer, you may find yourself without coverage.
  10. Insurance

    How To Assess A Group Health Insurance Plan

    Not all group healthcare plans will match up with your needs. Comparing coverage and costs will help you determine what you need and how much it should cost you.
RELATED FAQS
  1. Which types of coverage ratios should I look at when deciding to invest in a company?

    Find out why coverage ratios are useful for investors to know and which three coverage ratios an investor should understand ... Read Answer >>
  2. What's the difference between the coverage ratio and the liquidity coverage ratio?

    Understand the difference between coverage ratios and the liquidity coverage ratio and why the liquidity coverage ratio rule ... Read Answer >>
  3. What is a bad interest coverage ratio?

    Understand how interest coverage ratio is calculated and what it signifies, and learn what market analysts consider to be ... Read Answer >>
Hot Definitions
  1. Operating Cost

    Expenses associated with the maintenance and administration of a business on a day-to-day basis.
  2. Money Market

    A segment of the financial market in which financial instruments with high liquidity and very short maturities are traded. ...
  3. Block (Bitcoin Block)

    Blocks are files where data pertaining to the Bitcoin network is permanently recorded.
  4. Fintech

    Fintech is a portmanteau of financial technology that describes an emerging financial services sector in the 21st century.
  5. Ex-Dividend

    A classification of trading shares when a declared dividend belongs to the seller rather than the buyer. A stock will be ...
  6. Debt Security

    Any debt instrument that can be bought or sold between two parties and has basic terms defined, such as notional amount (amount ...
Trading Center