Answer:
$8,100
Step-by-step explanation:
Tyler owns a major medical policy with 70/30 coinsurance and a $3,000 deductible. If he submits a claim for $20,000, how much will he pay?
Tyler pays $8,100.
It can be calculated thus as $20,000 - $3,000 = $17,000.
So $17,000 x .30 = $5,100.
The sum of $3,000 deductible with the $5,100 coinsurance
($3,000 + $5,100= $8,100).
The correct answer is: $8,100
Insurance is a from of protection against financial loss. it is a type of risk management strategy used by businesses and individual entities.The entity that provides insurance is known as an Insurer
