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Review the provided information and answer accordingly. Assume your health insurance plan has the following features: Co-Pay for primary care: $40 Co-Pay for specialist:
Review the provided information and answer accordingly. Assume your health insurance plan has the following features: Co-Pay for primary care: $40 Co-Pay for specialist: $80 Co-Pay for hospital: $250 Deductible: $500 Coinsurance: 80/20 (insurance company pays 80%; you pay 20%) Out-of-Pocket Maximum: $5,000 1 point Let's assume that you have not incurred any healthcare costs yet this year. You go to the hospital pay the $250 co-pay upon entrance. A few weeks later, you receive a bill showing an outstanding balance of $7,500 worth of medical expenses, before insurance. How much of the $7,500 balance will you be required to pay after insurance pays their portion? What would be your total out-of-pocket cost for $15,000 of annual medical expenses. Visit co-pays are in addition to the $15,000. (1 hospital visit, 2 specialist visits, 5 PCP visits)? 5,000 (610 co-pays + 500 deductible + 3,900 co-insurance (20% of 19,500)=$5010 so redirects to $5,000) What would be your total out-of-pocket cost for $40,000 of annual medical expenses? Visit co-pays are in addition to the $40,000 (2 hospital visits, 3 specialist visits, 6 PCP visits)?
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