Insurance industry in the context of "Fee"

In microeconomics, an industry is a branch of an economy that produces a closely related set of raw materials, goods, or services. For example, one might refer to the wood industry or to the insurance industry.

When evaluating a single group or company, its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. For example the International Standard Industrial Classification (ISIC) – used directly or through derived classifications for the official statistics of most countries worldwide – classifies "statistical units" by the "economic activity in which they mainly engage". Industry is then defined as "set of statistical units that are classified into the same ISIC category". However, a single business need not belong just to one industry, such as when a large business (often referred to as a conglomerate) diversifies across separate industries.

Greater Hartford is a region located in the U.S. state of Connecticut, centered on the state's capital of Hartford. It represents the only combined statistical area in Connecticut defined by a city within the state, being bordered by the Greater Boston region to the northeast and New York metropolitan area to the south and west. Sitting at the southern end of the Metacomet Ridge, its geology is characterized by land of a level grade along the shores of Connecticut River Valley, with loamy, finer-grained soil than other regions in the state. Greater Hartford (the metropolitan area as defined by the U.S. Census Bureau), had a total population of 1,213,531 at the 2020 United States census.

Hartford's role as a focal point for the American insurance industry is known nationally. The metropolitan area's affluence and its vibrant music and arts scene define the region's culture. The region's economy is closely tied with Springfield, Massachusetts, with both cities being served by Bradley International Airport and with their shared presence within the Knowledge Corridor, being only 25 miles apart. The area is also served by the smaller Hartford-Brainard Airport.

In the context of healthcare in the United States, a pre-existing condition is a medical condition that existed before a person's health insurance went into effect. Before 2014, some insurance policies would not cover expenses due to pre-existing conditions. These exclusions by the insurance industry were intended to mitigate adverse selection by potential customers. Such exclusions have been prohibited since January 1, 2014, by the Patient Protection and Affordable Care Act.

According to the Kaiser Family Foundation, more than a quarter of adults below the age of 65 (approximately 52 million people) had pre-existing conditions in 2016.