Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ecky's comprehensive major medical health insurance plan at work has a deductible of 760. The policy pays 80 percent of any amount above the deductible.

image text in transcribed
ecky's comprehensive major medical health insurance plan at work has a deductible of 760. The policy pays 80 percent of any amount above the deductible. While on a hiking rip, Becky contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a five-day hospital stay, totaled $8,913. A friend told her that she would have paid less if she had a policy with a stop-loss feature that capped her out-of- pocket expenses at $3,100. a. Calculate the total amount Becky would pay under the current policy. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Becky's co-insurance cost Deductible Total personal cost Would a $3,100 stop-loss provision on her current policy have reduced Becky's cost for this illness? Yes O No Score answer

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

International Finance Theory And Policy

Authors: Paul R. Krugman, Maurice Obstfeld, Marc J Melitz,

11th Edition

013451954X, 9780134519548

More Books

Students also viewed these Finance questions