Question
Information for questions 6-8. Your have an employee only coverage. Your annual in-network deductible is $1,700, in-network co-insurance is 20%, in-network out-of-pocket maximum is $3,400.
Information for questions 6-8.
Your have an employee only coverage. Your annual in-network deductible is $1,700, in-network co-insurance is 20%, in-network out-of-pocket maximum is $3,400.
The deductible is the amount you must pay out-of-pocket before the plan will begin to pay benefits.
Coinsurance is the percent of a covered healthcare service you pay after you have paid your deductible. For example, if your coinsurance is 20%, you pay 20% of the cost and the plan will pay the other 80%.
The out-of-pocket maximum is the most youll have to pay for covered services in a plan year. After you spend this amount on deductibles, copays, and coinsurance, the plan begins to pay 100% of the allowed amount for covered services.
6. You estimate that your total medical bill, before any insurance payment, would be $1,500. How much would be your responsibility? Assume this is the only medical bill you would have for the year.
a. $1,200
b. $1,500
c. $0
d. $300
7. You estimate that your total medical bill, before any insurance payment, would be $3,400. How much would be your responsibility? Assume this is the only medical bill you would have for the year.
a. $2,040
b. $680
c. $1,700
d. $3,400
8. You estimate that your total medical bill, before any insurance payment, would be $12,000. How much would be your responsibility? Assume this is the only medical bill you would have for the year.
a. $2,060
b. $3,760
c. $3,400
d. 1,700
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