Question

Ken needs a surgery on his foot. The estimated cost of the surgery is $5,000. The insurance policy provided by Ken's company has $500 deductible and 20% co-pay. How much will Ken have to pay for foot surgery?

Answer 1

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Answer:

$1400

Explanation:

Ken will be required to pay the deductible and 20% of the remaining amount.

Ken pays $500 + 0.20(5000 -500) = $500 +900

Ken pays $1400