Question
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?
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