calculating total cost of insurance\nthe table shows the information for imrans health insurance. if imran…

calculating total cost of insurance\nthe table shows the information for imrans health insurance. if imran visited the doctor 4 times last year and had a procedure done with a bill for $4,500 after meeting his deductible, how much was imrans total cost for health insurance and health care last year?\n| item | description | amount / percentage | frequency / total |\n| ---- | ---- | ---- | ---- |\n| premium | monthly payment to keep insurance active | $325 | 12 payments annually |\n| deductible | out - of - pocket amount before insurance covers costs | $750 | once annually |\n| copayment | fixed amount for a doctors visit | $20 | 4 visits annually |\n| coinsurance | percentage of total bill after deductible | 15% | after deductible is met, applied to a $4,500 bill |

calculating total cost of insurance\nthe table shows the information for imrans health insurance. if imran visited the doctor 4 times last year and had a procedure done with a bill for $4,500 after meeting his deductible, how much was imrans total cost for health insurance and health care last year?\n| item | description | amount / percentage | frequency / total |\n| ---- | ---- | ---- | ---- |\n| premium | monthly payment to keep insurance active | $325 | 12 payments annually |\n| deductible | out - of - pocket amount before insurance covers costs | $750 | once annually |\n| copayment | fixed amount for a doctors visit | $20 | 4 visits annually |\n| coinsurance | percentage of total bill after deductible | 15% | after deductible is met, applied to a $4,500 bill |

Answer

Explanation:

Step1: Calculate annual premium cost

$325\times12 = 3900$

Step2: Add deductible cost

$3900+750$

Step3: Calculate total copayment cost

$20\times4 = 80$

Step4: Calculate coinsurance cost

$4500\times0.15=675$

Step5: Calculate total cost

$3900 + 750+80 + 675=5405$

Answer:

$5405$