Question

A health insurance policy pays for two medical exams each year and a dental exam. is this insurance in the sense of socializing risk?​

Answer 1

Answer:

Yes.

Insurance, by its very nature, socializes risks and losses while privatizing profits.

Explanation:

This has been the nature of insurance, health insurance inclusive.  All insurance is about spreading (socializing) the risks so thinly that each affected person does not feel any heavy burden.  A health insurance policy collects some amount of premium in order to cover unforeseen health risks for the insured.  There is no policyholder who pays for the full cost of her policy.  The cost is always spread out to the insuring public.