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
Problem 1PS
Related questions
Question
Help get right answer please
Transcribed Image Text:Health Insurance Plan
Deductible
Co-insurance
Out-of-pocket
max
Emergency
copay
Primary copay
A. $4,000
C. $900
$3,000
40%
$5,000
$400
$40
2023 International Academy of Science. All Rights Reserved.
How much money will a
patient using this
insurance plan have to
pay for a $4,900 medical
bill from an emergency
room visit?
O
B. $3,600
D. $1,500
Expert Solution
Step 1: Information Provided:
- Total medical bill = $4900 for an emergency room visit
- As per the Health Insurance plan
- Deductible = $3000
- Co-insurance = 40%
- Out of pocket max = $5000
- Emergency copay = $400
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