Question
Beckys comprehensive major medical health insurance plan at work has a deductible of $810. The policy pays 85 percent of any amount above the deductible.
Beckys comprehensive major medical health insurance plan at work has a deductible of $810. The policy pays 85 percent of any amount above the deductible. While on a hiking trip, Becky contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and an eight-day hospital stay, totaled $9,013. A friend told her that she would have paid less if she had a policy with a stop-loss feature that capped her out-of-pocket expenses at $3,600. a. Calculate the total amount Becky would pay under the current policy. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Becky's co-insurance cost $ Deductible $ Total personal cost $ b. Would a $3,600 stop-loss provision on her current policy have reduced Becky's cost for this illness? Yes No
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started