A patient's insurance policy states: Annual deductible: $300.00 Coinsurance: 70-30 This year the patient has made payments totaling $533 to all providers. Today the patient has an office visit (fee: $80). The patient presents a credit card for payment of today's bit. What is the amount that the patient should pay?
Q: If a hospital received $9,000 in payments per year at the end of each year for the next (12) years…
A: Current value of collection payments(Present value) = Annual payment x PVIAF (rate %, year)
Q: A patient is admitted for appendectomy. His Health insurance will cover up to Php 24,000. His entire…
A: An cost is the decrease in the value of an asset caused by its usage to produce income. If the…
Q: Larry purchased an annulty from an insurance company that promises to pay him $1,000 per month for…
A: Exclusion ratio=Investment AmountExpected Annuity Value×100
Q: Luke borrows $200 000 from a bank to set up a medical practice. He agrees to pay a fixed interest…
A: Given: Loans = $200,000 Interest rate = 18.48% years = 10years
Q: How much of this person’s direct medical expenses was paid by the insurance company? What did they…
A: Direct medical expenses paid by the insurance company = Hospital Expenses minus deductible minus…
Q: Sarah's comprehensive major medical health insurance plan at work has a deductible of $400. The…
A: Introduction: Medical insurance always plays an important role in everyone's life. A person who is…
Q: Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer…
A: The Child and Dependent Care Credit seem to be a nonrefundable tax credit available to taxpayers…
Q: Health insurance policy pays 65% of physical therapy cost after deductible of $200. In contrast HMO…
A: Calculation of Amount Saved with HMO:The amount saved with HMO is $155.Excel Spreadsheet:
Q: a parent on the day of the child is born wishes to detrmine what lump sum would have to be paid into…
A: An annuity is a contract between you and an insurance company in which you make a lump-sum payment…
Q: An insurance company is offering a new policy to its customers. Typically, the policy is bought by a…
A: Two interest rates are given, the calculation is made accordingly. Future values of 1-6 years are…
Q: Stephanie was involved in a car accident and rushed to the emergency room. She received stitches for…
A: given, emergency bill = $850 annual deductible = $300 coverage = 80%
Q: Sal required surgery for a the removal of a tumor. His total bill for medical services was $90,000.…
A: Please see the step 2 for the solution
Q: A 72-year-old customer asks his registered representative (RR) to begin required minimum…
A: A qualified annuity is the annuity which is made by the taxpayer for the purpose to get the income…
Q: What is the amount that could be deducted as a medical expense (ignoring the AGI floor if Hulu…
A: Deductible Medical expense shall include the following Payments for transportation primarily for…
Q: Mr. Whitaker works for Dawn Industries. His family is covered by one health insurance policy. He…
A:
Q: A patient is admitted for appendectomy. His PhilHealth will cover up to PHP 24,000. His entire…
A: The answer is stated below:
Q: Tommy Cook is 19 years old and is interested in purchasing a whole life insurance policy with a face…
A: Since you have posted a question having multiple sub-parts. All sub-parts are solved for you below.
Q: How much money will a patient pay out of pocket, including 50% deductible, for a minor procedure…
A: In the healthy insurance terminology, the deductible is said to be the amount which the insured…
Q: A patient is a member of a health plan with a 15 percent discount from the provider's usual fees and…
A: Calculation of day charges after deducting the discount of 15%: = 480 - 15% = 480 -72 = 408.
Q: Sarah purchases a health insurance plan. The annual premium is $7,000. The plan has the following…
A: Answer $4,000 deductible, sarah would pay the first $4,000 of his healthcare expenses during the…
Q: You are the beneficiary of a life insurance policy. The insurance company informs you that you have…
A: The value of money changes with time. Therefore, the time value of money considers the value of…
Q: C.J Watson of Clemson, SC, recently had a surgery. His total bill for the surgery, which was his…
A: Given information: The total expense of surgery is $12,890 Insurance plan $500 annual deductible…
Q: If Carissa has a $140,000 home insured for $110,000, based on the 80 percent coinsurance provision,…
A:
Q: Jane Evans receives payments of $900 at the beginning of each month from a pension fund of $72,500.…
A: We will apply the annuity formula to find the number of payments and the size of final payment.
Q: Becky's comprehensive major medical health insurance plan at work has a deductible of $710. The…
A: Insurance helps to hedge the risk against unpredictable losses. The insured is required to pay a…
Q: Ms. Daphnee Rosagas needs 5,500 on August 19, 1991 for her children's school expenses. She plans to…
A: Future Value Required = 5500 Loan Date = August 19,1991 Repayment Date = December 6, 1991 N = Time…
Q: Ariana's health insurance policy includes a deductible of $1050 and a coinsurance provision…
A: Coinsurance expense = Total expense - Deductible expense = 8,700 - 1,050 =…
Q: John Klos was in the hospital for 15 days, the total bill was $152,000. Then John spent an…
A: Total bill=$152000Deductible=$500Coinsurance cap=$1500
Q: B. A patient is a member of a health plan with a 15 percent discount from the provider’s usual fees…
A: HMO (Health Maintenance Organization) is a medical insurance plan instituted by medical insurance…
Q: The tucker family has health insurance coverage that pays 80 percent of out of hospital expenses…
A: Given: Insurance Coverage =80%Deductible per person =500Medication expenses =1100
Q: Travis Thompson uses his credit card to obtain a cash advance of $600 to pay for his textbooks in…
A: Money paid at a specific rate on a regular basis for the use of money loaned or for delaying the…
Q: Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer…
A: Solution:- Calculation of child and dependent care credit as follows:- Basic information:- Dependent…
Q: Kathy has an account balance in her employer’s money purchase pension plan of $1,000. The plan has a…
A:
Q: 2. Maria Metcalf, a heating technician, has a gross weekly income of $502.16. Her earnings to date…
A: The question gives us gross weekly earnings and earnings till date for this year It then asks us how…
Q: Britta has been accepted into a 2-year Medical Assistant program at a career school. She has been…
A: In the given question an unsubsidized 10-year federal loan is given to Britta for his 2-year Medical…
Q: Mrs. Smith has a monthly payment of $230 for health insurance, a $500 deductible, an 80%/20% c…
A: Insurance is an agreement between Insurer and Insured where Insurer compensate Insured for any loss…
Q: Anita pays 50% of the total cost for her benefits, her employer pays the other 50%. monthly premium…
A: Total Combined benefit payable = Health premium + Dental Premium = $167.50 +$75.50 = $243 Since…
Q: Theresa Morgan of Boone, IA, age 55, recently suffered a stroke. Her total bill for this care was…
A: Deductible is the amount that is paid by the insured under a insurance policy to the insurance…
Q: Kemiah has the following insurance information from her employer: Premium: $200/month Deductible:…
A: Insurance deductible is the amount that you are responsible for payment towards medical expense out…
Q: Hannah received an invoice in the mail from Carpet Country for $4235. The invoice was dated March 22…
A: Given, Hannah received an invoice in the mail from Carpet Country for $4235 Invoice was dated March…
Q: For life insurance policies, some of the premium pays for the cost of the insurance, and the…
A: The annual percentage yield (APY) is the real rate of return earned on an investment, taking into…
Q: Calculate the amount that the pharmacy bills to the insurance company under the formula of AWP plus…
A: The amount that can be claimed from an insurance company is as per the formula which insurance…
Q: Determine the amount of the child- and dependent-care credit to which each of the following…
A: The answer is stated below: Note: Answering the first three subparts as there are multiple…
Q: Laura was billed 1200 for a recent surgery. The patient has a $1500 deductible of which she has met…
A: Insurance is the agreement between two parties whereby one party agrees to compensate the other…
Q: Grace's employer is now offering group-termlife insurance. The company will provide each employee…
A: Given, Insurance Coverage given by Employer = $135,000, Age = 57 years, Cost per $1,000 of…
A patient's insurance policy states: Annual deductible: $300.00 Coinsurance: 70-30
This year the patient has made payments totaling $533 to all providers. Today the patient has an office visit (fee: $80). The patient presents a credit card for payment of today's bit. What is the amount that the patient should pay?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- A patient's total surgery charges are $1,278. The patient must pay the annual deductible of $1,000, and the policy states a 80-20 coinsurance. What does the patient owe? ExplainYou have a policy with a $1,000 deductible, 80/20 co-insurance, and a $7,500 maximum OOP. You become ill and are hospitalized for two days. The total cost for your treatment is $26,000. Answer the following questions. How much will you pay of the deductible? How much will you pay in co-insurance? What is the total OOP you will pay for this hospital visit? During the same policy year, you have an additional medical expense of $3,500. How much will you pay? What is your total OOP for the year-to-date? Later in the same policy year, you have a $5,000 charge for tests required after your previous hospital stay. How much will you payA patient's total surgery charges are $1,278. The patient must pay the annual deductible of $1,000, and the policy states a 80-20 coinsurance. What does the patient owe?
- B. A patient is a member of a health plan with a 15 percent discount from the provider’s usual fees and a $10 copay. The day's charges are $480. What are the amounts that the HMO and the patient each pay?A patient is a member of a health plan with a 15 percent discount from the provider's usual fees and a $10 copay. The day's charges are $480. What amount should the HMO pay? What amount should the patient pay?You have health insurance coverage that pays 75% of out-of-hospital expenses after a $400 deductible. You incurred doctor and prescription medication expenses of $1090. What amount will the insurance company pay?
- Laura was billed 1200 for a recent surgery. The patient has a $1500 deductible of which she has met 800additionher policy has 10% co-insurance How much will insurance pay? How much will Laura pay?How much money will a patient using this insurance plan have to pay for a $4200 medical bill?An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the child's birth. The purchaser (say, the parent) makes the following six payments to the insurance company: First birthday: $950 Second birthday. $950 Third birthday: $1,050 Fourth birthday: $850 Fifth birthday: $1,150 Sixth birthday: $950 After the child's sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $450,000. The relevant interest rate is 15 percent for the first six years and 7 percent for all subsequent years. Find the future value of the payments at the child's 65th birthday. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
- An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the child's birth. The details of the policy are as follows: The purchaser (say, the parent) makes the following six payments to the insurance company: $910 First birthday: Second birthday: $ 910 Third birthday: $ 1,010 Fourth birthday: $ 1,010 Fifth birthday: $ 1,110 $ 1,110 Sixth birthday: After the child's sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $420,000. If the relevant interest rate is 11 percent for the first six years and 7 percent for all subsequent years, what is the value of the policy at the child's 65th birthday? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) > Answer is complete but not entirely correct. Child's 65th birthday $ 367,778.00 XAn insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the child’s birth. The purchaser (say, the parent) makes the following six payments to the insurance company: First birthday: $ 820 Second birthday: $ 820 Third birthday: $ 920 Fourth birthday: $ 850 Fifth birthday: $ 1,020 Sixth birthday: $ 950 After the child’s sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $320,000. The relevant interest rate is 10 percent for the first six years and 7 percent for all subsequent years. Find the future value of the payments at the child's 65th birthday.An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the child's birth. The details of the policy are as follows: The purchaser (say, the parent) makes the following six payments to the insurance company: 910 $910 First birthday: Second birthday: Third birthday: Fourth birthday: $ 1,010 $ 1,010 Fifth birthday: $ 1,110 Sixth birthday: $ 1,110 After the child's sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $420,000. If the relevant interest rate is 11 percent for the first six years and 7 percent for all subsequent years, what is the value of the policy at the child's 65th birthday? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Child's 65th birthday