EBK FOCUS ON PERSONAL FINANCE
6th Edition
ISBN: 9781260140965
Author: Kapoor
Publisher: MCGRAW HILL BOOK COMPANY
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Question
Chapter 9, Problem 2P
Summary Introduction
To determine: Savings with HMO
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A health insurance policy pays 65 percent of physical therapy cost after a $200 deductible. In contrast, an HMO charges $15 per visit for physical therapy. How much would a person save with the HMO if they had 10 physical therapy sessions costing $50 each? please show working
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 pay
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?
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