Maria's family has a health insurance plan. Her mother has $350 deducted from her paychecks each month.When Maria visited the doctor, her mother paid a $25 fee. The insurance company covered the rest of the cost of the visit.When Maria's mother went to the hospital, her family was responsible for paying the first $1,000 of the bill. After this payment, the insurance company covered the rest of the costs.
The first $1,000 Maria’s family must pay for the hospital bill before insurance covers the remaining costs is the deductible. The $25 paid at the doctor’s visit is a co-payment, and the monthly $350 payment is a premium.
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