C. Peter has a major medical insurance policy with a $8,000 deductible and an 80...
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Accounting
C. Peter has a major medical insurance policy with a $8,000 deductible and an 80 - 20 percentage participation clause'. Last month, Peter was hospitalized and his covered medical expenses were $110,000 i. How much of the $110,000 will be paid by the insurer under Peter's major medical insurance policy? How much will Peter have to pay himself? Show all your calculations. 4 marks ii. Explain the purpose of a percentage participation clause in medical health insurance. 3 marks
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