Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Becky's comprehensive major medical health Insurance plan at work has a deductible of $470. The policy pays 75 percent of any amount above the deductible.

image text in transcribed Becky's comprehensive major medical health Insurance plan at work has a deductible of $470. The policy pays 75 percent of any amount above the deductible. While on a hiking trip, Becky contracted a rare bacterlal disease. Her medical costs for treatment, Including medicines, tests, and a five-day hospltal stay, totaled $9,153. A frlend told her that she would have pald less if she had a policy wlth a stop-loss feature that capped her out-of-pocket expenses at $4,300. a. Calculate the total amount Becky would pay under the current policy. (Do not round Intermedlate calculatlons. Round your answers to 2 decimal places.) b. Would a $4,300 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

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

Government Auditing Standards

Authors: U.S. Government Accountability Office

1st Edition

B0C9S8NVST, 979-8851147746

More Books

Students also viewed these Accounting questions

Question

Discuss the benefits of adopting HR valuation at Infosys.

Answered: 1 week ago

Question

friendliness and sincerity;

Answered: 1 week ago