Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help answer the below math insurance questions. Let's say your health insurance plan has the following features: Use for #1-4 ONLY Deductible; $1000 Coinsurance:

Please help answer the below math insurance questions.

Let's say your health insurance plan has the following features: Use for#1-4 ONLY

Deductible; $1000 Coinsurance: 80/20 (you pay the 20%; insurance company pays the 80%) Out-of-Pocket Maximum: $5,000

1. You go to the Hospital and incur $9500 worth of medical expenses. How much do you have to pay out of pocket?

2. What would be your out-of-pocket cost for $35,000 of annual medical expenses?

3. With an unpaid $1000 deductible and $3750 medical bill, how much will insurance pay?

4. What would be your out-of-pocket cost for $65,000 of medical expenses?

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_2

Step: 3

blur-text-image_3

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

What Every Environmentalist Needs To Know About Capitalism

Authors: Fred Magdoff, John Bellamy Foster

1st Edition

1583672419, 9781583672419

More Books

Students also viewed these Economics questions

Question

Perform the given set operations in Problems 1924. a. b. NUW

Answered: 1 week ago