Consider a relatively simple health insurance plan with the following provisions. Office visits require a...
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Consider a relatively simple health insurance plan with the following provisions. Office visits require a co-payment of $25. Emergency room visits have a $220 co-payment. Surgical operations have a $2,000 deductible (the first $2,000 is paid out of pocket). The monthly premium is $380. During a one-year period, somebody insured by this health insurance has the expenses shown to the right. Complete parts (a) and (b) below. a. Determine the person's health care expenses for the year with the insurance policy.
The person's health care expenses with the insurance policy are
$_____.
(Type a whole number.)
b. Determine the person's health care expenses for the year without the insurance policy.
The person's health care expenses without the insurance policy are
$_______
(Type a whole number.)
Expenses
Total Cost
Feb. 18: Office visit
$100
Mar. 26: Emergency room
$580
Apr. 23: Office visit
$100
May 14: Surgery
$7,000
July 1: Office visit
$100
Sept. 23: Emergency room
$900
a. Determine the person's health care expenses for the year with the insurance policy.
The person's health care expenses with the insurance policy are
$_____.
(Type a whole number.)
b. Determine the person's health care expenses for the year without the insurance policy.
The person's health care expenses without the insurance policy are
$_______
(Type a whole number.)
Expenses | Total Cost |
|---|---|
Feb. 18: Office visit | $100 |
Mar. 26: Emergency room | $580 |
Apr. 23: Office visit | $100 |
May 14: Surgery | $7,000 |
July 1: Office visit | $100 |
Sept. 23: Emergency room | $900 |
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