SOLUTION: PLEASE HELP!!! ASAP!!!Jen must pay $500 of medical expenses before her insurance company will begin to pay (this is called the deductible). After she pays her $500 deductible, the

Question 660761: PLEASE HELP!!! ASAP!!!Jen must pay $500 of medical expenses before her insurance company will begin to pay (this is called the deductible). After she pays her $500 deductible, the insurance company will pay 80% of her remaining medical expenses. If Jen paid a total of $750 in medical expenses last year, how much did her insurance company pay? (show work/explanation)
Found 3 solutions by ReadingBoosters, stanbon, josmiceli:
Answer by ReadingBoosters(3246)   (Show Source): You can put this solution on YOUR website!
Convert 80% into decimal
80/100 = .8
$750 = medical expenses
Deductible applied to medical expenses
750-500 = 250 remaining medical expenses
.80 of(multiply) 250
.80(250) = $200 paid by insurance
Answer by stanbon(75887)   (Show Source): You can put this solution on YOUR website!
Jen must pay $500 of medical expenses before her insurance company will begin to pay (this is called the deductible).
After she pays her $500 deductible, the insurance company will pay 80% of her remaining medical expenses.
If Jen paid a total of $750 in medical expenses last year, how much did her insurance company pay?
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Jen's total medical expenses for the year are 750
She paid $500 + 20% of her medical costs over $500
Let her med costs over 500 be "x".
Equation:
0.20x = $250
x = $1250
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The insurance company paid 80% of Jen's med cost -$500
Company paid 0.80(1250) = $1000.00
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Cheers,
Stan H.
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Answer by josmiceli(19441)   (Show Source): You can put this solution on YOUR website!
Let = the bill for the year minus the deductible
$750 is more than $500, so Jen must have paid the
$500 deductible. Her share of the rest of the bill is
20%, so

The insurance company's share is $1,000

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