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amid [387]
3 years ago
11

Elise's health insurance policy has a deductible of $500, a $20 copayment on doctor visits, and coinsurance of 10% on all expens

es other than those for which there are copayments. She visited the doctor four times last year (doctor's fee is $40 per visit) and underwent a surgery that cost $3,000. If instead she had had a policy with a $1,000 deductible, a $10 copayment on doctor visits, and no coinsurance, which of the following is TRUE regarding her expenses (excluding the cost of the insurance)?(A) With the higher deductible, she would have saved between $70 and $249 relative to what she paid with her actual policy.(B) With the higher deductible, she would have saved more than $250 relative to what she paid with her actual policy.(C) With the higher deductible, she would have spent at least $300 more than she paid with her actual policy.(D) With the higher deductible, she would have spent between $50 and $250 more than she paid with her actual policy.
Business
1 answer:
jeyben [28]3 years ago
3 0

Answer:

The correct option is (c).

With the higher deductible, she would have spent at least $300 more than she paid with her actual policy

Explanation:

For her actual policy total expenses;

Deductible =$500

Copayment doctor visit= $20

Coinsurance of 10%= 10/100 ×500=$50

Doctor visit= $40 × 4= $160

Surgery= $3000

Total expenses= $3730

With the higher deductible expenses;

Deductible= $1000

Copayment doctor visit= $10

Doctor visit= $40×4= $160

Surgery= $3000

Total expenses= $4170

Difference in expenses= $4170-$3730= $440

Therefore option (c) is the right option.

With the higher deductible, she would have spent at least $300 more than she paid with her actual policy

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When the price of a commodity is $11, where 1250 units are being bought and sold in a perfectly competitive market, the market price of the commodity will increase from its original price if the market is monopolized.

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