Answer :
Susie needs to pay $1000 for the deductible and 20% coinsurance, which amounts to $19,800. However, her out-of-pocket maximum is $5000, so she only needs to pay that amount. Susie's health insurance policy has a $200 monthly premium, a $1000 deductible, a 20% coinsurance, and a $5000 out-of-pocket maximum. If Susie breaks her leg and has a $100,000 hospital bill, she will need to pay a portion of that
1. Deductible: First, Susie needs to meet her $1000 deductible. This means she is responsible for paying the first $1000 of the bill out of her own pocket.
2. Coinsurance: After the deductible is met, Susie's coinsurance kicks in. With a 20% coinsurance, she is responsible for paying 20% of the remaining bill.
- Deductible: $1000
- Remaining bill: $100,000 - $1000 = $99,000
- Coinsurance: 20% of $99,000 = $19,800
3. Out-of-pocket maximum: Finally, we need to consider the out-of-pocket maximum. This is the maximum amount Susie will have to pay in a given year. If her out-of-pocket expenses reach $5000, any additional costs will be covered by her insurance.
- Coinsurance: $19,800
- Out-of-pocket maximum: $5000
Since Susie's out-of-pocket expenses have reached the maximum limit, she won't need to pay more than $5000. Therefore, Susie needs to pay $5000 of the $100,000 hospital bill.
1. Deductible: Susie needs to pay the first $1000 of the bill.
2. Coinsurance: After the deductible, Susie pays 20% of the remaining bill, which amounts to $19,800.
3. Out-of-pocket maximum: Since her out-of-pocket expenses reach $5000, she doesn't need to pay more than that.
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Susie needs to pay $19,800 of her $100,000 hospital bill.
Susie's health insurance policy has a $200 monthly premium, a $1000 deductible, a 20% coinsurance, and a $5000 out-of-pocket maximum.
First, Susie needs to pay the deductible of $1000 before her insurance starts covering the costs.
After paying the deductible, Susie's insurance will cover 80% of the remaining costs, while she will be responsible for the remaining 20% coinsurance.
In this case, Susie's hospital bill is $100,000. So, after paying the deductible, Susie will be responsible for 20% of the remaining bill.
The remaining bill after the deductible is $100,000 - $1000 = $99,000.
20% of $99,000 is $99,000 * 0.20 = $19,800.
Therefore, Susie needs to pay $19,800 of the $100,000 hospital bill.
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