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Chucks health insurance requires payment of an annual deductible of $500 per person or $1,000 per family. After meeting the deductible, he must pay 20%
Chucks health insurance requires payment of an annual deductible of $500 per person or $1,000 per family. After meeting the deductible, he must pay 20% of covered charges until he reaches $4,200 out of pocket, after which the insurer will pay 100% of the costs. Chuck has had no other claims during the year. Zoey, his daughter, fell from a playground swing set and requires emergency surgery. The hospital stay costs $20,000. How much will he end up paying out of pocket?
$4,200
$3,900
$4,000
$4,400
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