Question

Maria Cardenas had a policy with a $500 deductible which paid 80% of her covered charges less deductible. She had medical expenses of $12,500. Calculate: a. the company's payment $ b. the 20% copayment $ c. Mary's total cost

Answer 1

A.) The insurance company's payment is 80% of the total minus the $500 deductible, so:
(12500 - 500) * .8 = 9600

B.) To find the Copay, you do almost the same thing:
(12500 - 500) * .2 = 2500

C.) Mary's Total Cost: 2500 + 500 = 3000.00