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Saleem has an individual medical expense insurance policy with a $1,000 deductible and a 70-30 (insurer-insured) percent coinsurance clause. Saleem had surgery, that is covered
Saleem has an individual medical expense insurance policy with a $1,000 deductible and a 70-30 (insurer-insured) percent coinsurance clause. Saleem had surgery, that is covered by the insurance policy, and incurred medical bills of $15,000. a- In total, how much will the insurance company pay toward these medical bills? Show your work. (3 marks) b- In total, how much will Saleem have to pay? Show your work. (3 marks) c- In total, how much of the medical bills has been covered (by the insurer and Saleem together). (1 mark)
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