Calculating medical costs Name Find the cost of each medical incident for the following plans. Assume that this is their first incident of the year for each incident. Remember: You pay 100% of all claims until you reach your deductible. Then you pay your coinsurance until you hit your out of pocket maximum See the example in the first box. MAKE SURE IF, AFTER CALCULATIONS, YOUR TOTAL IS MORE THAN YOUR OUT OF POCKET MAX, THAT YOU JUST PUT THE OUT OF POCKET. THAT IS THE MOST YOU WOULD PAY Premium Type Network Monthly $200 Low monthly, High Deductible, Low Coinsurance In Out Deductible $2000 Deductible $6000 Out of Pocket $6000 Out of Pocket $12000 Coinsurance 10% Coinsurance 10% Plan Coverage EXAMPLE Ambulance Ride $12,000 Pay deductible ($2000) Pay deductible ($6000) Left over $10,000 Left over $6,000 You pay 10% of that You pay 10% of that 10,000 - 10% (0.1) = 1000 6,000 * 10% (0.1) = 600 So you pay 2000 (deductible) So you pay 6000 (deductible) + 1000 (coinsurance) + 600 (coinsurance) = $3000 = $6600 Carpal Tunnel $2900 Appendix $15,000 Brain MRI $2500 Child Birth $4200 Chest x-Ray $366 C-section birth $30,000 Gallbladder $94,897 Coronary Bypass $40,000