Question

Paco has a traditional health insurance plan. His deductible is $750. The level of co-insurance for his plan is 70/30 where 30 represents Paco’s portion. He also has a one-time co-payment of $20. If Paco incurs a $1,000 hospital bill, how much money will he owe out-of-pocket for the bill?
A. $845
B. $720
C. $545
D. $620

Answer 1

He pays a $750 deductible and 30% of the remainder and $20 one time fee
$750 + (30%($1000-$750)) + $20
$750 + (30%($250)) + $20
$750 + $75 + $20 = $845

Answer 2

Answer:

$845 took the test