What is the difference between a co-pay and coinsurance?

(1 point)
Responses

A co-pay is what Medicare and Medicaid patients pay. Coinsurance is for people who have private insurance.
A co-pay is what Medicare and Medicaid patients pay. Coinsurance is for people who have private insurance.

A co-pay is a percentage of the bill, paid after the appointment. Coinsurance is a set fee usually paid when the patient arrives for the appointment.
A co-pay is a percentage of the bill, paid after the appointment. Coinsurance is a set fee usually paid when the patient arrives for the appointment.

A co-pay is a set fee usually paid when the patient arrives for the appointment. Coinsurance is a percentage of the bill, paid later.
A co-pay is a set fee usually paid when the patient arrives for the appointment. Coinsurance is a percentage of the bill, paid later.

A co-pay is for people who have private insurance. Coinsurance is what Medicare and Medicaid patients pay.

1 answer

The correct response is:

A co-pay is a set fee usually paid when the patient arrives for the appointment. Coinsurance is a percentage of the bill, paid later.

This accurately distinguishes the two terms: a co-pay is a fixed amount due upfront, while coinsurance involves paying a percentage of the total medical bill after the service has been rendered.