four health insurance policies\nthe costs and coverages for four different health insurance policies are…

four health insurance policies\nthe costs and coverages for four different health insurance policies are listed. premiums are the amount that one pays for the insurance policy. deductibles are the amounts paid out - of - pocket for an insurance claim before the insurance company pays for expenses. copayments are paid out - of - pocket for each doctor visit. coinsurance is paid out - of - pocket for medical expenses after the policys deductible has been met, usually represented as a percentage of the total bill. the out - of - pocket maximum is the limit that a person pays for their health insurance in a given year, including deductibles, copayments, and coinsurance.\npolicy 1\npremium: $150 per month\ndeductible: $2,500 per year\ncopayment: $20 per doctor visit\ncoinsurance: 20% after the deductible is met\nout - of - pocket maximum: $5,000\njoanna has policy 1 and has not met the deductible for the year. a recent hospital visit has resulted in a $2,000 bill.\nhow much of the bill will she have to pay out - of - pocket?\n$500\n$400\n$1,000\n$2,000

four health insurance policies\nthe costs and coverages for four different health insurance policies are listed. premiums are the amount that one pays for the insurance policy. deductibles are the amounts paid out - of - pocket for an insurance claim before the insurance company pays for expenses. copayments are paid out - of - pocket for each doctor visit. coinsurance is paid out - of - pocket for medical expenses after the policys deductible has been met, usually represented as a percentage of the total bill. the out - of - pocket maximum is the limit that a person pays for their health insurance in a given year, including deductibles, copayments, and coinsurance.\npolicy 1\npremium: $150 per month\ndeductible: $2,500 per year\ncopayment: $20 per doctor visit\ncoinsurance: 20% after the deductible is met\nout - of - pocket maximum: $5,000\njoanna has policy 1 and has not met the deductible for the year. a recent hospital visit has resulted in a $2,000 bill.\nhow much of the bill will she have to pay out - of - pocket?\n$500\n$400\n$1,000\n$2,000

Answer

Explanation:

Step1: Recall insurance - deductible concept

Since Joanna has not met the deductible and the bill is less than the deductible.

Step2: Determine out - of - pocket amount

She has to pay the full bill amount.

Answer:

$2,000