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viktelen [127]
3 years ago
9

Paco has a traditional health insurance plan. His deductible is $750. The level of co-insurance for his plan is 70/30 where 30 r

epresents paco's portion. He also has a one time co-payment of $20. If Paco incurs a $1000 hospital bill howich money does he owe outta pocket
Health
1 answer:
aleksandrvk [35]3 years ago
6 0

The money owed out of pocket for the bill will be $845

<u>Explanation:</u>

  • Poco has come with the traditional health insurance plan, and he pays $750 for the deductible, $20 for a one-time payment and 30% denotes the remainder as well as paco portion.

The formula would be

      (30% (Insurance cost-deductible cost)) + deductible cost +   co payment

     =(30 percentage of ($1000(insurance)-$750( deductible) + $20))+$750( deductible)+$20(co-payment)

     = (30%($250)) +$750+ $20

     =$75 + $750+$20 = $845

The solution is $845.

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