Hazard A circumstance that increases the likelihood or probable severity of a loss. For example, an unattended lit cigarette is a hazard that increases the likelihood of a fire.

Health Plan Flexible Spending Account Central fund into which employees contribute pre-tax earnings to pay for health insurance premiums and uninsured medical costs. When the employee submits evidence of medical expenses paid out-of-pocket, he or she is reimbursed from the fund.

Heir An individual who inherits some or all of the estate of a deceased person by virtue of being in the direct line of descent, or being designated in a will or by legal authority. The term is often applied to those who would inherit by will, deed, or operation of law.

Heirs and Assigns Heirs are individuals who inherit some or all of the estate of a deceased person by virtue of being in the direct line of descent, or being designated in a will or by a legal authority. Assigns or assignees is a broader term that includes anyone to whom property is, will, or may be assigned. An assign may receive property from an assignor by conveyance, descent, or an act of law.

Hold Harmless Agreement A clause in a contract in which one party agrees not to hold the other responsible for, or to protect the other from, any claims.

Hospice Facility that provides short-term continuous care in a home-like setting for terminally ill people with a life expectancy of six months or less. Some health insurance plans cover hospice stay up to a certain limit with no deductible.