what is the idea behind a single payer system of health insurance
Single-payer healthcare Single-payer healthcare is a healthcare system financed by taxes that covers the costs of essential healthcare for all residents, with costs covered by a single public system (hence 'single-payer').[1][2] Alternatively, a multi-payer healthcare system is one in which private, qualified individuals or their employers pay for health insurance with various limits on healthcare coverage via multiple private or public sources.[3][4]
Insurance policy In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.