Question

Jaxon has a health insurance policy through his university that he pays $100 per month in premiums. The plan requires a $500 deductible with a 20% coinsurance payment after the deductible has been met. His total medical bills for the year were $2,150. How much did Jaxon pay for the year including premiums, deductible, and coinsurance?
A)$2,030

B)$930

C)$2,130

D)$1,030

Answer 1

Answer:

The correct answer is A. $2,030.

Explanation:

Since Jaxon has a health insurance policy through his university that he pays $ 100 per month in premiums, and the plan requires a $ 500 deductible with a 20% coinsurance payment after the deductible has been met, and his total medical bills for the year were $ 2,150 To determine how much did Jaxon pay for the year including premiums, deductible, and coinsurance, the following calculation must be performed:

(12 x 100) + 500 + ((2,150 - 500) x 0.2) = X

1,200 + 500 + (1,650 x 0.2) = X

1,200 + 500 + 330 = X

1,700 + 330 = X

2,030 = X

Therefore, Jaxon had to pay $ 2,030.