Question

You can either purchase insurance with a premium of $400 and a co-pay of $50 or purchase insurance with a premium of $450 and no co-pay. Is there a difference between these policies? Explain.(1 point) Responses Yes, because the first policy requires you to pay $50 less per month but would require a payment of $50 any time services are received. Yes, because the first policy requires you to pay 50 dollars less per month but would require a payment of 50 dollars any time services are received. Yes, because the first policy requires a flat payment of $50 any time services are received, but you would have to pay $50 less of your own money to the service provided before the insurance company will begin to pay for the service. Yes, because the first policy requires a flat payment of 50 dollars any time services are received, but you would have to pay 50 dollars less of your own money to the service provided before the insurance company will begin to pay for the service. No, because “co-pay” is a needless term used by insurance companies to make their premiums look smaller. The full premium is effectively $450 . No, because “co-pay” is a needless term used by insurance companies to make their premiums look smaller. The full premium is effectively 450 dollars. No, because “premium” is a needless term used by insurance companies to make their co-pays look smaller. The full co-pay is effectively $450 .

Answer 1

Yes, because the first policy requires you to pay $50 less per month but would require a payment of $50 any time services are received.