A health insurance policy pays 60 percent of physical therapy costs after a deductible of $400. In contrast, an HMO charges $25 per visit for physical therapy. How much would a person save with the HMO if he or she had 10 physical therapy sessions costing $100 each? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar) Savings with HMO
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- Health insurance policy pays 65% of physical therapy cost after deductible of $200. In contrast HMO charges $15 per visit. How much person save with HMO if she had 10 Physical therapy s$50 each?You 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 payC.J Watson of Clemson, SC, recently had a surgery. His total bill for the surgery, which was his only health care expense for the year, came to $12,890. His health insurance plan has a $500 annual deductible and an 80/20 coinsurance provision (meaning CJ will only pay 20% of the costs). The coinsurance cap for CJ is $2,000. How much of the bill will CJ pay?
- An insurance company has a simplified method for determining the annual premium for a term life insurance policy. A flat annual fee of $150 is charged for all policies plus $2.50 for each thousand dollars of the amount of the policy.For example, a $20,000 policy would cost $150 for the fixed fee plus $50, which corresponds to the face value of the policy. If p equals the annual premium in dollars and x equals the face value of the policy (stated in thousands of dollars), determine the function which can be used to compute annual premiums.Break-A-Leg Insurance Company sells a $500,000 insurance policy to thespians for self-inflicted lower-body extremity injury. The premium for the policy is $150 per year. If the probability that an actor actually breaks their leg and is paid $500,000 is 0.0001, compute the expected value the insurance company should expect to receive per policy sold. The insurance company should expect to receive how much money?Latesha Moore has a choice at work between a traditional health insurance plan that pays 80 percent of the cost of doctor visits after a $250 deductible and an HMO that charges a $55 co-payment per visit plus a $1919 monthly premium deduction from her paycheck. Latesha anticipates seeing a doctor once a month for her high blood pressure. The cost of each office visit is $6060. She normally sees the doctor an average of three times a year for other health concerns. Comment on the difference in costs between the two health-care plans and the advantages and disadvantages of each. Question content area bottom Part 1 Latesha would pay an annual out-of-pocket cost with the traditional plan of
- Michael Howitt of Berkley, Michigan, recently had his gallbladder removed. His total bill for this surgery, which was his only health care expense for the year, came to $13,810. His health insurance plan has a $450 annual deductible and an 80/20 coinsurance provision. The cap on Michael's coinsurance share is $1,910. Round your answers to the nearest dollar. a. How much of the bill will Michael pay? b. How much of the bill will be paid by Michaels insurance?Calculate the amount that the pharmacy bills to the insurance company under the formula of AWP plus 2% plus $6 dispensing fee per prescription if the pharmacy fills 50 prescriptions in 1 month for the same drug and each of the prescriptions contain 30 tablets of the same drug which has AWP $300.A health insurance policy costs $275/month and pays $100,000 for a major illness. The probability that an individual will use their benefits in a given month is .25% for a major illness and 12% for a doctor's visit costing an average of $100. If the company has 40,000,000 policyholders, what is the expected net profit for the company each month?
- Prydain Pharmaceuticals is reviewing its employee healthcare program. Currently, the company pays a fixed fee of$300 per month for each employee, regardless of the number or dollar amount of medical claims filed. Anotherhealth-care provider has offered to charge the company$100 per month per employee and $30 per claim filed. Athird insurer charges $200 per month per employee and$10 per claim filed. Which health-care program should Prydain join? How would the average number of claimsfiled per employee per month affect your decision?Consider the following scenario: Bill has an income of $50,000 and has a probability of remaining healthy of 70%. If he is not healthy, Bill has the following projected medical costs that would be paid 100% by insurance: Medications = $400 Medical Office Visits = $1,600 What is the actuarially fair premium Bill should pay?A couch sells for $1020. Instead of paying the total amount at the time of purchase, the same couch can be bought by paying $400 down and $60 a month for 12 months. How much is saved by paying the total amount at the time of purchase? A