Explore BrainMass

Explore BrainMass


    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Explain why an individual may prefer insurance with a co-payment rather than insurance without any co-payment? What is the preference of those in your own organization?

    © BrainMass Inc. brainmass.com June 4, 2020, 4:01 am ad1c9bdddf

    Solution Preview

    It is not always the individual who makes this decision, often it is the company they work for that decides what will be offered (if they have employer-sponsored benefits).

    Basically, insurance with a co-payment is less expensive than without. The least expensive medical plans have a co-payment and a large deductible. As a rough example, a policy that has a $50 co-payment and $1000 deductible (the amount the patient must pay before the insurance covers) ...

    Solution Summary

    This solution discusses some financial aspects of why a company or individual might chose an insurance plan with co-payment versus one without.