age 57, recently suffered a stroke. She was in intensive ital, she spent 25 days in a nursing home at a cost of $24 loyer. The policy had a $1,000 deductible and an 80/20 c she had no long-term care or disability income insurance. a's direct medical expenses was paid by her insurance poli we to pay for her nursing home care?
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- Theresa Morgan of Boone, IA, age 55, recently suffered a stroke. Her total bill for this care was $125,500. After being discharged from the hospital, she spent 21 days in a nursing home at a cost of $270 per day. Theresa, who earns $3,700 per month, missed two months of work. Theresa had a health insurance plan through her employer. The policy had a $600 deductible and an 80/20 coinsurance clause with a $5,000 coinsurance cap. She had also accumulated 21 sick days (equivalent to one month) at work. Otherwise she had no long-term care or disability insurance. In total, Theresa missed 42 days of work. How much of Theresa's direct medical expenses was paid by her insurance policy?Theresa Morgan of Boone, IA, age 55, recently suffered a stroke. Her total bill for this care was $125,500. After leaving the hospital, she spent 25 days in a nursing home that cost $170 per day. Theresa, who earns $4,500 per month, missed two months of work. Theresa had a health insurance plan through her employer. The policy had a $1,000 deductible and an 80/20 coinsurance clause with a $2,000 coinsurance cap. She had also accumulated 21 sick days (equivalent to one month) at work. Otherwise she had no long-term care or disability insurance. She was out of work for a total of 42 days. How much of Theresa's direct medical expenses was paid by her insurance policy? C How much income did Theresa lose?Stephanie was involved in a car accident and rushed to the emergency room. She received stitches for a facial and treatment for a broken finger. Under Stephanie PPO plan, emergency room care at a network hospital is 80 percent covered after the member has met a 300 annual deductible. Assume that Stephanie went to a hospital within her PPO network. Her total emergency room bill was 850. What amount did Stephanie have to pay? What amount did the PPO cover?
- Sarah's comprehensive major medical health insurance plan at work has a deductible of $400. The policy pays 80 percent 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 $9,440. 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 $3,700. The policy with the stop-loss feature has the same deductible and coinsurance requirement as Sarah's current policy. Determine which policy would have cost Sarah less and by how much. (Round your intermediate calculations and final answer to 2 decimal places.) O Current policy O Stop-loss feature O No difference in Sarah's cost for this claim. Difference amountSusan is in an indemnity health insurance plan that has a $500 deductible and a co- insurance percentage of 80/20. Susan falls down a flight of stairs and breaks her leg. She is hospitalized and the total cost of the hospital stay is $12,000. How much of the $12,000 is Susan responsible to pay and how much will the insurance company pay?Maria has spent over $100,000 on medical bills and a nurse aid who lives in her house. She has been chronically ill for several months. She owns a $1,000,000 life insurance policy. Due to her chronic illness, Maria expects to have an additional $600,000 in medical bills in the current year. She has asked that the life insurance policy pay the $1,000,000 to her now. If Maria receives $1,000,000, how much can she exclude from her income? OA) $700,000 OB) $0 OC) $100,000 OD) $1,000,000
- Jenny Smith, age 57, is single. Jenny earned wages of $52,000 and was enrolled the entire year in a high deductible healthplan (HDHP) with self-only coverage. During the year, Jenny contributed $2,000 to her Health Savings Account (HSA) and hermother also contributed $1,000 to Jenny's HSA account. Jenny's Form W-2 shows $650 in Box 12 with code W. She has Form 5498-SA showing$3,650 in Box 2.. Jenny took a distribution from her HSA to pay her unreimbursed expenses: 8 visits to a physical therapist after her knee surgery $400 unreimbursed doctor bills for $900 prescription medicine $200 replacement of a crown $1,500 over the counter medication $40 gym membership $240 Jenny is a U.S. citizen with a valid Social Security number. 6. Form 8889, Part 1 is used to report HSA contributions made by _______________. a. Jenny b. Jenny's employer c. Jenny's mother d. All of the above Jenny is eligible to contribute an additional $1,000 to her HSA because she is age 55…Barbara incurred the following expenses during the year: $840 dues at ahealth club she joined at the suggestion of her physician to improve her generalphysical condition, $240 for multiple vitamins and antioxidant vitamins, $500for a smoking cessation program, $250 for nonprescription nicotine gum, $600 forinsulin, and $7,200 for funeral expenses for her mother who passed away in June.Before considering the AGI limitation, what amount may Barbara include in computingher medical expense deduction?Belinda spent the last 60 days of 2021 in a nursing home. The cost of the services provided to her was $18,000 ($300 per day). Medicare paid $8,500 toward the cost of her stay. Beliinda also received $7,500 of benefits under a long-term care insurance policy she purchased. Assume that the Federal daily excludible amount is $400. If the amount is zero, enter 0. What is the effect on Belinda's gross income? Her available exclusion is $ therefore, the amount included in her gross income is S
- Oscar Wang was seriously injured in a snowboarding accident that broke both his legs and an arm. His medical expenses included five days of hospitalization at $900 a day, $9,400 in surgical fees, $6,800 in physician's fees (including time in the hospital and six follow-up office visits), $460 in prescription medications, and $2,100 for physical therapy treatments. All of these charges fall within customary and reasonable payment amounts. If Oscar had an indemnity plan that pays 90 percent of his charges with a $1,000 deductible and a $5,000 stop-loss provision, how much would he have to pay out of pocket? Round the answer to the nearest dollar. $ What would Oscar's out-of-pocket expenses be if he belonged to an HMO with a $40 co-pay for office visits? Assume there are no other out-of-pocket costs. Round the answer to the nearest dollar. $ Monthly premiums are $320 for the indemnity plan and $455 for the HMO. If he has no other medical expenses this year, which plan provides…Ursula is employed by USA Corporation. USA Corporation provides medical and health, disability, and group term life insurance coverage for its employees. Premiums attributable to Ursula were as follows: (Click the icon to view the premiums attributable to Ursula.) During the year, Ursula suffered a heart attack and subsequently died. Before her death, Ursula collected $14,000 as a reimbursement for medical expenses and $5,000 of disability income. Upon her death, Ursula's husband collected the $40,000 face value of the life insurance policy. Read the requirements. C Requirement a. What amount can USA Corporation deduct for premiums attributable to Ursula? (Enter a "0" if none of the premiums are deductible.) The premiums attributable to Ursula that USA Corporation can deduct is Requirement b. How much must Ursula include in income relative to the premiums paid? (Enter a "0" if none of the premiums paid should be included in income.) The amount that Ursula must include in income…Ursula is employed by USA Corporation. USA Corporation provides medical and health, disability, and group term life insurance coverage for its employees. Premiums attributable to Ursula were as follows: (Click the icon to view the premiums attributable to Ursula.) During the year, Ursula suffered a heart attack and subsequently died. Before her death, Ursula collected $14,000 as a reimbursement for medical expenses and $5,000 of disability income. Upon her death, Ursula's husband collected the $40,000 face value of the life insurance policy. Read the requirements. Requirement a. What amount can USA Corporation deduct for premiums attributable to Ursula? (Enter a "0" if none of the premiums are deductible.) The premiums attributable to Ursula that USA Corporation can deduct is Requirement b. How much must Ursula include in income relative to the premiums paid? (Enter a "0" if none of the premiums paid should be included in income.) 0 $4,100 Ursula must report income of She must report…