how much money will a patient using this insurance plan have to pay for a $4,900 medical bill from an…
how much money will a patient using this insurance plan have to pay for a $4,900 medical bill from an emergency room visit?\nhealth insurance plan\ndeductible $3,000\nco - insurance 40%\nout - of - pocket max $5,000\nemergency copay $400\nprimary copay $40
Answer
Explanation:
Step1: Check if deductible is met
The medical bill is $4900 and the deductible is $3000. Since $4900>3000, the deductible has been met.
Step2: Calculate co - insurance amount
The amount subject to co - insurance is $4900 - 3000=1900$. The co - insurance rate is 40% or 0.4. So the co - insurance amount is $1900\times0.4 = 760$.
Step3: Add deductible and co - insurance amount
The total amount the patient pays is the deductible plus the co - insurance amount, which is $3000+760 = 3760$. Since $3760<5000$ (out - of - pocket max), and there is an emergency copay of $40$.
Step4: Add emergency copay
The final amount the patient pays is $3760 + 40=3800$.
Answer:
$3800$