Question 8 (1 point) 1. Suppose a person has a health insurance policy with a $500 calendar year deductible, a $2.000 out- of-pocket cap, and an 80% coinsurance provision. If this person suffers a $700 covered loss, how much will the insurance company pay? (Assume no previous losses have occurred.) $80 $160 $500 $700 Question 10 (1 point) 1. Nick has a comprehensive health care policy with a $250 per calendar year deductible and 80%20% with a maximum $1.000 copayment cap per calendar year. In January, Nick had a $600 claim which the insurance company paid $280. Nick experiences another unrelated claim in October resulting in total bills of $6,000. How much will Nick have to pay for the second claim? $6000 $4800 $1000 $930