Ariana’s health insurance policy includes a deductible of $1,500 and a coinsurance provision requiring her to...

Ariana’s health insurance policy includes a deductible of $1,500 and a coinsurance provision requiring her to pay 20 percent of all bills. Her total bill is $8,800. What is Ariana’s total cost?

Expert Solution

ariana's total bills = 8800

less: ariana's health insurance deductibles = 1500

balance = 8800-1500 = 7300

coinsurance provision = 20% of bills i.e. 20% on balance = 20% of 7300 = 1460

then, ariana's total cost = 1460+1500 = 2960

ARIANA'S TOTAL COST = $2,960

jeff jeffy answered 2 years ago

Georgio has a health insurance policy that includes a deductible of $400 and a coinsurance of 20%.

Georgio has a health insurance policy that includes a deductible of $400 and a coinsurance of 20%. If her total is $6000, how much will her insurance pay?

Suzanne has no deductible on her health insurance policy she will tend to engage in a...

Suzanne has no deductible on her health insurance policy she will tend to engage in a lifestyle that is less healthy than a person with $1,200 insurance deductible this is said to be a problem of

Joanne has a health insurance plan with a $1000 calendar-year deductible, 80% coinsurance

Joanne has a health insurance plan with a $1000 calendar-year deductible, 80% coinsurance, and a $5,000 out-of-pocket cap Joanne incurs $1,000 in covered medical expenses in March, $3,000 in covered expenses in July, and $30,000 in covered expenses in December. How much does Joanne's plan pay for her July losses?(Careful: The facts on this Concept Check are the same as in the previous one, but the question asked is different) Joanne has a health insurance plan with a $1000 calendar...

Explain why provision of health insurance (50 % coinsurance rate) makes demand for health care more...

Explain why provision of health insurance (50 % coinsurance rate) makes demand for health care more price inelastic

Suppose that Larrys annual deductible for his health insurance plan is $10,000. His coinsurance rate is...

Suppose that Larrys annual deductible for his health insurance plan is $10,000. His coinsurance rate is 25%. The price of healthcare is $100 per visit, and Luke goes on 200 visits per year (after losing his hand, he’s REALLY sickly). Answer the following questions: How much does Luke spend out-of-pocket on healthcare? If Luke’s health insurance policy has a maximum out-of-pocket of $15,000, will this policy affect him? WHY or WHY NOT.

Greg has a traditional health insurance plan with a $250 deductible, 80/20 coinsurance, and a $6000...

Greg has a traditional health insurance plan with a $250 deductible, 80/20 coinsurance, and a $6000 out-of-pocket limit. His total health care bill is $8,760. How much of this bill will he end up paying?

Discuss the meaning of deductible and coinsurance in the context of insurance. What are the similarities...

Discuss the meaning of deductible and coinsurance in the context of insurance. What are the similarities and differences between the two? How do deductibles and coinsurance mitigate the losses of insurers? Madam Yong Hon Heng owns a factory building valued at RM1.8 million, and she insures the property under four insurers at RM300,000 (insurer A), RM400,000 (insurer B), RM500,000 (insurer C) and RM600,000 (insurer D). Assume that each insurer includes a pro-rata liability clause in their policy. In the event...

Consider a farmer who is trying to choose between a coinsurance policy and a deductible policy...

Consider a farmer who is trying to choose between a coinsurance policy and a deductible policy to protect against damage to her farming lands. The value of the loss, and the corresponding probabilities of each value, are given as follows: L = 0 with prob. 0:4 10; 000 with prob. 0:2 20; 000 with prob. 0:05 40; 000 with prob. 0:05 60; 000 with prob. 0:05 80; 000 with prob. 0:05 100; 000 with prob. 0:15 220; 000 with prob....

A health insurance policy has a coinsurance clause that requires the insured to pay the first...

A health insurance policy has a coinsurance clause that requires the insured to pay the first $250 of charges and 20 percent of additional charges up to a maximum total payment of $1,250. The bills for health care are January 5. $120. March 30. $45 April 18. $375. June. 20. $63 August 25. $560. October 2. $190 November 1 $35. December 20. $95 Calculate the amount the insured must pay for each of the bills. Then determine the total amount...

Let's say your health insurance plan has the following features: • Deductible: $500 • Coinsurance: 80/20...

Let's say your health insurance plan has the following features: • Deductible: $500 • Coinsurance: 80/20 (you pay the 20%; insurance company pays 80%) • Out-of-Pocket Maximum: $5,000 Now, let's say that you go to the hospital and incur $7,500 worth of medical expenses. How much do you have to pay out of pocket? What would be your out-of-pocket cost for $20,000 of annual medical expenses? What would be your out-of-pocket cost for $40,000 of annual medical expenses?

Question