Question

Bret Parks has group health insurance. His coverage has a $200 deductible. He was recently treated for a covered condition. The costs totaled $3,500.00. Bret's insurance company provided payment of 80% of the bills less the deductible.

What was the insurance company's payment? $
What was Bret's total cost? $

Answer 1

Answer: The insurance Company's payment : 2,640.00

Bret's Total Cost : 860.00

Explanation:

Answer 2

3500 - 200 =3300...what is owed after the deductible is paid

0.80(3300) = 2640 <== insurance companies payment

(3300 - 2640) + 200 = 660 + 200 = 860 <== what Bret paid