an 80/20 coinsurance provision. The cap on Michael's coinsurance share is $1,910. Round your answers to the nearest dollar.   a. How much of the bill will Michael pay? b. How much of the bill will be paid by M

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Michael Howitt of Berkley, Michigan, recently had his gallbladder removed. His total bill for this surgery, which was his only health care expense for the year, came to $13,810. His health insurance plan has a $450 annual deductible and an 80/20 coinsurance provision. The cap on Michael's coinsurance share is $1,910. Round your answers to the nearest dollar.

 

a. How much of the bill will Michael pay?

b. How much of the bill will be paid by Michaels insurance?

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