What is the difference between a co-payment and co-insurance?
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Co-payment refers to two spouses paying for the same coverage, and co-insurance refers to two spouses receiving the same benefits.
A co-payment is a flat fee for each service, and co-insurance is based on a percentage of the costs incurred.
Co-payment is when a group of individuals work to cover each other’s medical expenses, and co-insurance is when an individual has multiple insurance policies from different companies.
A co-payment is when an employer helps an employee pay for insurance premiums, and co-insurance is when an employer helps an employee find better insurance than they could alone.
In a fee-for-service health insurance plan with a $6,500 annual deductible, _____.
the insurance company will not pay more than $6,500 for any hospital visit.
the insurance company will pay at most $6,500 in health care in a calendar year.
the insured individual must pay $6,500 in health care before the insurance company will begin to pay for his health care needs.
the insured individual must pay $6,500 in equal monthly installments in order for the insurance company to pay for his health care needs.
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Most U.S. workers and their families receive their health care plan through their employer because _____?
insurance costs are guaranteed to be cheapest by going through their employer.
employees are required by federal law to purchase health care through their employer.
employers are required by federal law to provide health care options for their employees.
group coverage is usually cheaper than individual coverage which allows employers to offer better benefits for less money.