Answer:
Amount insurer pays = $7000
Amount Ashley pays = $3000
Explanation:
Given that
Deductible = 1000
Incured medical Bill's = 10,000
On a 80-20 coinsurance clause
The insurer pays 80% of incured cost minus deductible and Ashley pays 20% of incured cost plus deductibles.
Therefore
Amount insurer pays = (10000 × 0.8) - 1000
= 8000 - 1000
= $7000
Amount Ashley Pays = (10000 × 0.2) + 1000
= 2000 + 1000
= $3000
Answer:
Ashley will pay $2,800
Ashley's insurer will pay $7,200
Explanation:
Given the following ;
Ashley's Deductible Insurance expense = $1000
Coinsurance clause = 80 - 20
Ashley's insurer percentage = 80%
Ashley's percentage = 20%
Total bill incurred = $10,000
With Ashley's deductible expense :
Total Bill left = $10,000 - $1,000(deductible insurance) = $9000
Ashley's share of total bill left :
0.2 × $9000 = $1800
Ashley's total = $1000 + $1,800 = $2,800
Ashley's insurer :
Percentage × total bill left
0.8 × $9000 = $7,200
