Last year, Mary had a health insurance policy with a $750 deductible and 20% coinsurance. Her total medical expenses
1 answer:
Answer:
Mary's total out-of-pocket costs = $3,250
Explanation:
<u>Formula:</u>
Deductible + Coinsurance dollar amount = Out-of-Pocket cost
<u>Step 1:</u>
The deductible amount that paid by the insured is $750.
<u>Step 2:</u>
The coinsurance dollar amount that paid by the insured – 20% of $12,500 = $2500
<u>Step 3:</u>
Deductible + Coinsurance dollar amount = Out-of-Pocket cost
$750 + $2500 = $3,250
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