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HELP!:) Michael and Barbara are thinking about starting a family, In preparation for this new phase of their life, they visited a local hospital to
HELP!:)
Michael and Barbara are thinking about starting a family, In preparation for this new phase of their life, they visited a local hospital to learn about the costs of delivery and care. They learned that the average cost for a normal birth is $8,200. This took Michael's breath way, until he remembered his employer-provided health insurance coverage, under which he and Barbara are covered. The plan features are as follows: - $500 per person deductible. - 10% coinsurance - $3,500 out-of-pocket yearly maximum. Based on the hospital's estimate and their health insurance policy, how much will Michael and Barbara pay if Barbara mives birth in early January (the beginning of a new insurance year)? How much will the insurance company pary? Michael and Barbara will pay Step by Step Solution
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