Questions: Health Insurance Payments How much money will a patient using this insurance plan have to pay for a 4,700 medical bill from an emergency room visit? Health Insurance Plan Deductible 2,000 Co-insurance 20% Out-of-pocket max 5,000 Emergency copay 300 Primary copay 20 [?] Submit Answer

Health Insurance Payments

How much money will a patient using this insurance plan have to pay for a 4,700 medical bill from an emergency room visit?

Health Insurance Plan
Deductible 2,000
Co-insurance 20%
Out-of-pocket max 5,000
Emergency copay 300
Primary copay 20

[?]

Submit Answer

Transcript text: Health Insurance Payments How much money will a patient using this insurance plan have to pay for a $4,700 medical bill from an emergency room visit? Health Insurance Plan Deductible | $2,000 Co-insurance | 20% Out-of-pocket max | $5,000 Emergency copay | $300 Primary copay | $20 $[?] Submit Answer

Solution

Solution Steps

Step 1: Calculate Remaining Amount After Deductible

The patient first pays the deductible of $ \$2000 $. The remaining amount after the deductible is calculated as: \[ \text{Remaining Amount} = \text{Medical Bill} - \text{Deductible} = 4700 - 2000 = 2700 \]

Step 2: Calculate Co-Insurance Payment

After the deductible, the patient is responsible for 20% of the remaining amount. The co-insurance payment is calculated as: \[ \text{Co-Insurance Payment} = 0.20 \times \text{Remaining Amount} = 0.20 \times 2700 = 540 \]

Step 3: Calculate Total Payment

The total payment by the patient includes the deductible, the co-insurance payment, and the emergency copay of $ \$300 $: \[ \text{Total Payment} = \text{Deductible} + \text{Co-Insurance Payment} + \text{Emergency Copay} = 2000 + 540 + 300 = 2840 \]