The Kelleher family has health insurance coverage that pays 75 percent of out-of-hospital expenses after a...

The Kelleher family has health insurance coverage that pays 75 percent of out-of-hospital expenses after a $500 deductible per person. If one family member has doctor and prescription medication expenses of $1,420, what amount would the insurance company pay? (Do not round intermediate calculations.) Insurance payment:

Expert Solution

Doctor & Prescription Medical Expenses are $1420.

Deduction per person is $500

Coverage by the Insurance is 75%

Amount to be paid by Insurance company is 75% * ($1420 - $500) ie. $690.

jeff jeffy answered 2 years ago

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