How much money will a patient using this insurance plan have to pay for a $4,900 medical bill from an emergency room visit?

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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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
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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