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Mary Hernandez had a policy with a $250 deductible which paid 80% of her covered charges less deductible. She had medical expenses of $18,240.00. Calculate: a. the insurance company's payment $ b. the 20% copayment $ c. Mary's total cost $

Respuesta :

Answer:

a. $14,392

b. $3598

c. $3848

Explanation:

a. Given,

Medical expenses = $18,240.00,

Deduction = $250

Total payment = 18240 - 250 = $ 17990

Payment percentage = 80%,

Thus, the insurance company's payment = 80% of (total payment)

[tex]=\frac{80}{100}\times 17990[/tex]

[tex]=\frac{4}{5}\times 17990[/tex]

[tex]=4\times 3598[/tex]

= $ 14392

b. co payment  percentage = 20 % of total payment

[tex]=\frac{20}{100}\times 17990[/tex]

[tex]=\frac{1}{5} \times 17990[/tex]

= $ 3598

c. Mary's total cost  = deduction +  co payment  

= 250 + 3598

= $3848

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