Sylvia recently had her appendix removed. Her total bill for the surgery, which was her only healthcare...
- Sylvia recently had her appendix removed. Her total bill for the surgery, which was her only healthcare expense for the year, came to $11,500. Her health insurance plan has a $500 annual deductible and an 80/20 coinsurance provision. The cap on Sylvia’s coinsurance share is $1,500.
A. How much of the bill will Sylvia pay?
B. How much of the bill will be paid by Sylvia’s insurance?
Homework Answers
| $ | ||
| insurance bill | 11500 | |
| annual deductible | 500 | |
| coinsurance 80/20 | ||
| i.e. coinsurance share of her | 2300 | |
| and that of company | 9200 | |
| cap on her coinsurance share | 1500 | |
| so company will share | 10000 | |
| on coinsurance | ||
| Sylvia shall pay on coinsurance | 1500+500 | |
| (effective annual cost) | i.e.2000 | |
| Sylvia's insurance company shall pay | 10000-500 | |
| (effective annual cost) | i.e.9500 | |
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Sylvia recently had her appendix removed. Her total
bill for the surgery, which was her only healthcare...
Sylvia recently had her appendix removed. Her total bill for the surgery, which was her only...
Sylvia recently had her appendix removed. Her total bill for the surgery, which was her only healthcare expense for the year, came to $11,500. Her health insurance plan has a $500 annual deductible and an 80/20 coinsurance provision. The cap on Sylvia’s coinsurance share is $1,500. How much of the bill will Sylvia pay? How much of the bill will be paid by Sylvia’s insurance?
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