2. Health Care Coverage Amounts. Michael Howitt of Berkley, Michigan, recently had his gallbladder removed. His total

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2. Health Care Coverage Amounts. Michael Howitt of Berkley, Michigan, recently had his gallbladder removed.

His total bill for this event, which was his only health care expense for the year, came to $13,890. His health insurance plan has a $500 annual deductible and an 80/20 coinsurance provision. The cap on Michael’s coinsurance share is $2000.

(a) How much of the bill will Michael pay?

(b) How much of the bill will be paid by Michael’s insurance?

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Personal Finance

ISBN: 9781439039021

10th Edition

Authors: E Thomas Garman, Raymond E Forgue

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Question Posted: Jul 24, 2024 07:02 AM

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2. Health Care Coverage Amounts. Michael Howitt of Berkley, Michigan, recently had his gallbladder removed. His total

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Personal Finance

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