Question
Arturo had hospitalization expenses of $8,300. Your policy for medical expenses Seniors have a deductible of $500 and expenses are paid at a 20% coinsurance. These are the first expenses ever this year, how much will Arturo have to pay in your bill for hospitalization expenses?
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Answer to a math question Arturo had hospitalization expenses of $8,300. Your policy for medical expenses Seniors have a deductible of $500 and expenses are paid at a 20% coinsurance. These are the first expenses ever this year, how much will Arturo have to pay in your bill for hospitalization expenses?
Madelyn
4.788 Answers
Arturo will have to pay $1560.00 in his bill for hospitalization expenses.
Here's the breakdown:
Deductible: $500 (This is the fixed amount that Arturo must pay before the insurance company starts covering any expenses.)
Amount covered by insurance: $8300 - $500 = $7800
Coinsurance: 20% (This is the percentage of covered expenses that Arturo will have to pay.)
Amount to be paid by Arturo: $7800 * 20% = $1560.00
Therefore, Arturo will need to pay $1560.00 out of his own pocket for his hospitalization expenses.
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