Question
When answering these questions, assume that Mark pays an annual insurance premium of $785, has a $750 annual deductible, and 80/20 coinsurance clause, and an
When answering these questions, assume that Mark pays an annual insurance premium of $785, has a $750 annual deductible, and 80/20 coinsurance clause, and an annual stop-loss of $3,000. For each medical procedure, calculate Mark's out-of-pocket expense and his cumulative year-to-date total out-of-pocket expense. Also assume that the March 15 health event is his first medical expense of the year. March 15, broken arm with x-rays. Cost: $1,550 Mark's deductible is __________ Mark's copayment is __________ Mark's out of pocket expenses (deductible + copay) __________ June 23, cold leading to strep throat. Cost: $30 office visit + $15 for penicillin. Mark's deductible is _________ Mark's copayment is _________ Mark's out of pocket expenses is ____________ November 14, gall bladder attack, requiring hospitalization and surgery. Cost $3,500 + $200 for ambulance service. Mark's deductible is _________ Mark's copayment is __________ Mark's out of pocket expenses (deductible + copay) ____________ What is Mark's maximum annual out-of-pocket cost per year? _______________ September 9, elective abdominal plastic surgery to give Mark a six-pack. Cost: $4,350 Mark's deductible is Mark's copayment is Mark's out of pocket expenses are What is Mark's maximum annual out-of-pocket cost per year?
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