You were in an accident that required surgery and five days of recovery in the hospital. Your total hospital bill reached $100,000. At the time of your accident you had previously paid nothing in health care costs for the year. Your health insurance has a deductible of $750 per year, a coinsurance rate for hospitalization of 10%, and an individual out-of-pocket maximum payment of $3000 for the year. How much must you pay out-of-pocket for your care in this situation?
You were in an accident that required surgery and five days of recovery in the hospital. Your total hospital bill reached $100,000. At the time of your accident you had previously paid nothing in health care costs for the year. Your health insurance has a deductible of $750 per year, a coinsurance rate for hospitalization of 10%, and an individual out-of-pocket maximum payment of $3000 for the year. How much must you pay out-of-pocket for your care in this situation?
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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![You were in an accident that required surgery and five days of recovery in the
hospital. Your total hospital bill reached $100,000. At the time of your accident you
had previously paid nothing in health care costs for the year. Your health insurance
has a deductible of $750 per year, a coinsurance rate for hospitalization of 10%, and
an individual out-of-pocket maximum payment of $3000 for the year. How much
must you pay out-of-pocket for your care in this situation?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd3e2b720-3590-4b16-a1de-cdce6a270ad9%2Fbfea8ecc-93b2-4a20-9dbe-ee2b0802c2fb%2F80hf74j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You were in an accident that required surgery and five days of recovery in the
hospital. Your total hospital bill reached $100,000. At the time of your accident you
had previously paid nothing in health care costs for the year. Your health insurance
has a deductible of $750 per year, a coinsurance rate for hospitalization of 10%, and
an individual out-of-pocket maximum payment of $3000 for the year. How much
must you pay out-of-pocket for your care in this situation?
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