Question
Vicky's comprehensive major medical health insurance plan at work has a deductible of $650. The policy pays 90% of any amount above the deductible. While
Vicky's comprehensive major medical health insurance plan at work has a deductible of $650. The policy pays 90% of any amount above the deductible. While on a hiking trip, she contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a six-day hospital stay, totaled $9860. A friend told her that she would have paid less if she had a policy with a stop-loss feature that capped her out-of-pocket expenses at $3400. The policy with the stop-loss feature has the same deductible and coinsurance requirement as Vicky's current policy. (Round your intermediate calculations and final answer to 2 decimal places)
Difference amount ___________
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started