Samuel Nguyen was seriously injured in a skiing accident that broke both his legs and an arm. His medical expenses included 8 days of hospitalization at $1,100 a day, $5,100 in surgical fees, $7,300 in physician's fees (including time in the hospital and six follow-up office visits), $340 in prescription medications, and $2,900 for physical therapy treatments. All of these charges fall within customary and reasonable payment amounts. If Samuel had a health insurance plan that pays 90 percent of his charges with a $500 deductible and a $5,000 stop-loss provision, how much would he have to pay out of pocket? Round to the nearest dollar. $ _____________________ What would Samuel’s out-of-pocket expenses be if he belonged to an HMO with a $40 co-pay for office visits? Round to the nearest dollar. $ ____________________ Monthly premiums are $225 for the standard plan and $205 for the HMO. If he had no other medical expenses this year, which plan would have provided more cost-effective coverage for Samuel?
Samuel Nguyen was seriously injured in a skiing accident that broke both his legs and an arm. His medical expenses included 8 days of hospitalization at $1,100 a day, $5,100 in surgical fees, $7,300 in physician's fees (including time in the hospital and six follow-up office visits), $340 in prescription medications, and $2,900 for physical therapy treatments. All of these charges fall within customary and reasonable payment amounts. If Samuel had a health insurance plan that pays 90 percent of his charges with a $500 deductible and a $5,000 stop-loss provision, how much would he have to pay out of pocket? Round to the nearest dollar. $ _____________________ What would Samuel’s out-of-pocket expenses be if he belonged to an HMO with a $40 co-pay for office visits? Round to the nearest dollar. $ ____________________ Monthly premiums are $225 for the standard plan and $205 for the HMO. If he had no other medical expenses this year, which plan would have provided more cost-effective coverage for Samuel?
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
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Samuel Nguyen was seriously injured in a skiing accident that broke both his legs and an arm. His medical expenses included 8 days of hospitalization at $1,100 a day, $5,100 in surgical fees, $7,300 in physician's fees (including time in the hospital and six follow-up office visits), $340 in prescription medications, and $2,900 for physical therapy treatments. All of these charges fall within customary and reasonable payment amounts.
- If Samuel had a health insurance plan that pays 90 percent of his charges with a $500 deductible and a $5,000 stop-loss provision, how much would he have to pay out of pocket? Round to the nearest dollar.
$ _____________________
- What would Samuel’s out-of-pocket expenses be if he belonged to an HMO with a $40 co-pay for office visits? Round to the nearest dollar.
$ ____________________
- Monthly premiums are $225 for the standard plan and $205 for the HMO. If he had no other medical expenses this year, which plan would have provided more cost-effective coverage for Samuel?
____________________________________________________________________________________________________________________________________________________
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