Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. Michael Howittt of Berkly, Michigan, recently had his gallbladder removed. His total bill for this surgery, which was his only health care expense for

4. Michael Howittt of Berkly, Michigan, recently had his gallbladder removed. His total bill for this surgery, which was his only health care expense for the year, came to $13,890. His healthcare insurance plan has a $500 annual deductible and an 80/20 coinsurance provision. The cap on Michael's coinsurance share is $2,000.

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

b.) How much of the bill will be paid by Michael's insurance?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Mathematics Derivatives And Structured Products

Authors: Chan

1st Edition

9811336954, 978-9811336959

More Books

Students also viewed these Finance questions