if mirandas health - insurance policy has a $1,000 deductible and 30% coinsurance, how much will she pay out…

if mirandas health - insurance policy has a $1,000 deductible and 30% coinsurance, how much will she pay out - of - pocket for a $5,000 medical bill? $4,000 $1,200 $1,500 $2,200

if mirandas health - insurance policy has a $1,000 deductible and 30% coinsurance, how much will she pay out - of - pocket for a $5,000 medical bill? $4,000 $1,200 $1,500 $2,200

Answer

Explanation:

Step1: Pay deductible first

Miranda pays the $1000 deductible. The remaining bill is $5000 - 1000=4000$.

Step2: Calculate coinsurance amount

She pays 30% of the remaining $4000$. So the coinsurance amount is $0.3\times4000 = 1200$.

Step3: Calculate total out - of - pocket

The total out - of - pocket is the deductible plus the coinsurance amount, $1000+1200 = 2200$.

Answer:

$2200$