Question
Blake has a health insurance policy with a $500 calendar year deductible, and he is required to pay 20% of eligible costs up to a
Blake has a health insurance policy with a $500 calendar year deductible, and he is required to pay 20% of eligible costs up to a $2,500 out-of-pocket cap. If his first claim of the year is for a $6,000 covered loss, how much will Blake have to pay?
| A. | $4,400 | |
| B. | $1,600 | |
| C. | $4,300 | |
| D. | $1,700 |
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
Finance For Nonfinancial Managers
Authors: Gene Siciliano
2nd Edition
0071824367, 978-0071824361
