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Two Health Insurance Cases

(a) Jermaine has a health insurance policy which has the deductible of $1,000, a $10 copayment on doctor visits, and coinsurance of 10% on all expenditures other than those for which there’re copayments. If Jermaine went to the doctor four times (doctor's fee is $40 per visit) and had the surgery that cost $2,000, how much of these expenditures did Jermaine pay directly?

(b) Elise has a health insurance policy which has a deductible of the $500, a $20 copayment on doctor visits, and coinsurance of the 10% on all expenditures other than those for which there’re copayments. She visited the doctor four times last year (doctor's fee is $40 per visit) and underwent the surgery that cost $3,000. If instead she had a policy with the $1,000 deductible, a $10 copayment on doctor visits and no coinsurance, (without the cost of insurance) would she pay more or less than with her authentic policy? By roughly how much (give range).

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M910652

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