Health insurance is generally considered haram (impermissible) in Islam due to elements of gambling (qimaar), interest (riba), and uncertainty (gharar).

1. Gambling (Qimaar): The insured might receive more or less than what they have paid, similar to gambling.
2. Interest (Riba): If the insurance company pays out more or less than the premiums paid, it involves usury.
3. Uncertainty (Gharar): The insurance contract is based on uncertain future events, which is prohibited in Islam.

Recommendation: It is advised to establish Shariah-compliant funds to cover medical expenses. Consult with local Islamic scholars and accountants to devise such a fund.

Sources:

1. Darul Iftaa
2. IslamWeb

And Allah knows best.