how much money will a patient using this insurance plan have to pay for a $4,600 medical bill from an…
how much money will a patient using this insurance plan have to pay for a $4,600 medical bill from an emergency room visit?\nhealth insurance plan\ndeductible $3,000\nco - insurance 20%\nout - of - pocket max $6,000\nemergency copay $500\nprimary copay $40
Answer
Explanation:
Step1: Pay deductible first
The deductible is $3000. Since the bill is $4600, the remaining amount after paying the deductible is $4600 - 3000=1600$.
Step2: Calculate co - insurance
The co - insurance is 20% of the remaining amount. So the co - insurance payment is $0.2\times1600 = 320$.
Step3: Calculate total out - of - pocket
The total out - of - pocket is the sum of the deductible and the co - insurance payment. So it is $3000+320 = 3320$. Since $3320<6000$ (out - of - pocket max) and we are dealing with an emergency room visit, we don't consider the primary copay. Also, the emergency copay is not applicable as the deductible has been met.
Answer:
$3320$