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Becky's comprehensive major medical health insurance plan at work has a deductible of $710. The policy pays 80 percent of any amount above the deductible. While on a hiking trip. Becky contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a five-day hospital stay, totaled $9.193. 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 $4,500. o. Calculate the total amount Becky would pay under the current policy (Do not round intermediate calculations. Round your answers to 2 decimal places.) Becky's co-insurance cost Deductible Total personal cost b. Would a $4,500 stop-loss provision on her current policy have reduced Becky's cost for this illness? O Yes O No

Becky's comprehensive major medical health insurance plan at work has a deductible of $710. The policy pays 80 percent of any amount above the deductible. While on a hiking trip. Becky contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a five-day hospital stay, totaled $9.193. 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 $4,500. o. Calculate the total amount Becky would pay under the current policy (Do not round intermediate calculations. Round your answers to 2 decimal places.) Becky's co-insurance cost Deductible Total personal cost b. Would a $4,500 stop-loss provision on her current policy have reduced Becky's cost for this illness? O Yes O No

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Becky's comprehensive major medical health insurance plan at work has a deductible of $710. The policy pays 80 percent of any amount above the deductible. While on a hiking trip. Becky contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a five-day hospital stay, totaled $9.193. 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 $4,500. o. Calculate the total amount Becky would pay under the current policy (Do not round intermediate calculations. Round your answers to 2 decimal places.) Becky's co-insurance cost Deductible Total personal cost b. Would a $4,500 stop-loss provision on her current policy have reduced Becky's cost for this illness? O Yes O No
Transcribed Image Text:Becky's comprehensive major medical health insurance plan at work has a deductible of $710. The policy pays 80 percent of any amount above the deductible. While on a hiking trip. Becky contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a five-day hospital stay, totaled $9.193. 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 $4,500. o. Calculate the total amount Becky would pay under the current policy (Do not round intermediate calculations. Round your answers to 2 decimal places.) Becky's co-insurance cost Deductible Total personal cost b. Would a $4,500 stop-loss provision on her current policy have reduced Becky's cost for this illness? O Yes O No
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