Answered step by step
Verified Expert Solution
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.
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
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