deductions and copays

Mathematics
Tutor: None Selected Time limit: 1 Day

surgical treatment of a broken arm costs 16,911. You have a 1000 deductible and then your insurace will pay 85% of the remaining cost. Your insurance also has an out-of-pocket maximum charge of 3500. What is your cost?

Sep 26th, 2015

Thank you for the opportunity to help you with your question!

So the Given are:

Deductible    = $1000

Coinsurance = 85/15 (you will pay the 15%)

Out of Pocket Max : $3,500

(1)  Subtract the deductible

$16,911 – 1,000.00 = $15,911

(2)  Pay the 15%

$15,911 x 15% = $2,386.65

So you have to pay  $3,386.65 out of pocket ($1000 deductible + $2,386.65 of coinsurance).

ANS : $3,386.65

Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 26th, 2015

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