8. What is the difference between a copay and coinsurance? a. Copay is typically a percentage of the health care service, coinsurance is a flat fee b. Copay is typically a flat fee, coinsurance is a percentage of the health care service c. Copay is paid by the individual when receiving a health care service, coinsurance is paid by the insurance company

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter11: Planning For Health Care Expenses
Section: Chapter Questions
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8. What is the difference between a copay and coinsurance?
a. Copay is typically a percentage of the health care service, coinsurance is a flat
fee
b. Copay is typically a flat fee, coinsurance is a percentage of the health care
service
c. Copay is paid by the individual when receiving a health care service, coinsurance
is paid by the insurance company
Transcribed Image Text:8. What is the difference between a copay and coinsurance? a. Copay is typically a percentage of the health care service, coinsurance is a flat fee b. Copay is typically a flat fee, coinsurance is a percentage of the health care service c. Copay is paid by the individual when receiving a health care service, coinsurance is paid by the insurance company
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