Question 1185295: Oliver injured his leg while playing football. Fortunately, he has a health insurance policy. He has a deductible of $2,000, and he must pay 20% coinsurance with his health insurance plan.
His medical bill is $3,500. If Oliver has paid $1,000 of his deductible so far this year, he will have to pay $(blank) out of pocket.
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! the dedutible is 2000.
he has payed 1000 already.
he still has 1000 to go.
his bill is 3500.
he has to pay 1000 of that to get rid of the rest of his deductible.
he has 2500 left to pay.
the insurance takes care of that ecept for 20% coinsurance that he has to pay.
20% of 2500 = 500.
he has to pay a total of 1500.
1000 of that is the rest of his deductible.
500 of that is the coinsurance on the rest.
i believe that's how it works.
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