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Assume your health insurance covers 80% of all out-of-hospital expenses but only after a $500 deductible per family member. Your child has doctor and prescription

Assume your health insurance covers 80% of all out-of-hospital expenses but only after a $500 deductible per family member. Your child has doctor and prescription bills of $5,000. YOU MUST SHOW ALL WORK FOR FULL CREDIT. a) What will the insurance company cover of the $5,000? b) What will you have to pay?

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