Sarah's comprehensive major medical health insurance plan at work has a deductible of $450. The...

80.2K

Verified Solution

Question

Accounting

image
Sarah's comprehensive major medical health insurance plan at work has a deductible of $450. The policy pays 85 percent of any amount above the deductible. While on a hiking trip, she contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a six-day hospital stay, totaled $9,660. A friend told her that she would have paid less if she had a policy with a stop-loss feature that capped her out-of-pocket expenses at $3,200. The policy with the stop-loss feature has the same deductible and coinsurance requirement as Sarah's current policy Determine which policy would have cost Sarah less and by how much. (Round your intermediate calculations and final answer to 2 decimal places.) Current policy Stop-loss feature O No difference in Sarah's cost for this claim. Difference amount s 1,368

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students