All Insurance required by law for substantial numbers of the general population, administered or closely supervised by the government, and supported primarily by earmarked contributions, with a benefit structure that usually redistributes income to achieve some social object, not private equity.
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Legally mandated insurance that provides basic economic security for a population. It mostly provides coverage for loss of income due to illness, old age, and unemployment. In the United States, social security can be considered a form of social insurance.
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MEDICAL, US: Type of insurance plan that is compulsory under an employee benefit plan. By law, participants have certain benefits. It is administered by a federal or state government agency.