Final answer:
Blanket health insurance is a type of group accident insurance which provides coverage under a single policy to a group of individuals, such as employees of a company, and is typically part of employment-based insurance.
Step-by-step explanation:
Blanket health insurance is a type of group accident insurance. This kind of policy provides coverage to a group of individuals, typically members of an organization or employees of a business, under a single master policy. Group accident insurance is designed to cover all members of the specified group for accidents that may occur while they are covered under the policy, and it's part of a broader categorization of insurance known as employment-based insurance. Such plans are often provided by employers or unions and can cover both the employee and their family.
Health insurance plans are critical in providing financial protection against medical expenses. The blanket approach simplifies the management and administration of insurance benefits for the provider and offers comprehensive coverage for individuals within the group. Health insurance markets also include other types of coverage, such as individual health and life insurance and direct-purchase insurance, which is bought directly from a private company by an individual.