Calculate the amount of money a patient would owe for a covered service costing $1,800 if their indemnity policy has a $400 deductible (which has not been met) and their coinsurance rate is 80-20.
A) $680
B) $1,800
C) $1,400
D) $280

Question

Quizplus · Accepted Answer

First, the patient pays the $400 deductible, leaving $1,400 of the cost. With an 80-20 coinsurance, the insurance pays 80%, and the patient pays 20%. So, the patient pays 20% of $1,400, which is $280, plus the $400 deductible, totaling $680.

Calculate the Amount of Money a Patient Would Owe for a Covered