Health insurance is protection against medical costs. A health insurance policy is a contract between an insurer, and an individual where as the insurer agrees to provide specified health insurance at an agreed-upon price - unsually in monthly premiums. Health insurance usually provides either direct payment or reimbursement for expenses associated with illnesses and injuries. The cost and range of protection provided by your health insurance will depend on your specific coverage and the particular policy you purchase. If your employer does not offer a health insurance plan, you may wish to purchase coverage on your own.