Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mark age 38 is insured under an individual medical expense policy that is part of a Preferred Provider Organization (PPO) network. The policy has a

Mark age 38 is insured under an individual medical expense policy that is part of a Preferred Provider Organization (PPO) network. The policy has a calendar-year deductible of $500, 90/10 percentage coinsurance, and an annual out-of-pocket limit of $3,000. Mark recently had minor surgery. The surgery was performed in an outpatient surgical center. Mark incurred the following medical expenses. (Assume that the charges shown are the charges approved by Marks insurer and that all providers are in the PPO network.) Outpatient X-rays and diagnostic tests $1,300 Covered charges in the surgical center $12,300 Surgeons fee $2,600 Outpatient prescription drugs $1,000 Physical therapy expenses $1,200 In addition, Mark could not work for two weeks and lost $2,000 in earnings. (15-1c) PART A. Based on the above information, how much of the expenses will be paid by the insurance company?

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

Frequently Asked Questions In International Standards On Auditing

Authors: Steven Collings

1st Edition

1118765419, 978-1118765418

More Books

Students also viewed these Accounting questions

Question

d. What language(s) did they speak?

Answered: 1 week ago