Question

PLEASE HELP IM NOT GOOD AT MATH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Jimmy was walking to get the mail; at which time he fell into a hole and broke his ankle. He has a PPO insurance plan. His total bill was $2,000. If Jimmy has a $1,000 deductible with an 80/20% co-insurance, how much total will Jimmy have to pay out of pocket? Show your work.

Answer 1

Answer: $200

Explanation:

Since there is a deductible here, you deduct it from the total bill first:

= 2,000 - 1,000

= $1,000

With an 80/20% coinsurance plan, you will pay for 20% of this bill and your insurance company will pay 80%.

You will therefore pay:

= 1,000 * 20%

= $200