Complete question:
William Right broke his leg in an accidental fall. He has a deductible of $150 and a coinsurance payment equal to 20% percent of the cost less the deductible. The entire bill for medical services was $750.00.
How much did William pay?
How much did insurance company pay
Answer:
$270 ; $480
Step-by-step explanation:
Given that:
Amount deductible = $150
Coinsurance payment = 20% of cost less deductible
Total bill = $750
Amount paid by Williams :
Amount deductible + coinsurance payment
Amount deductible = $150
Coinsurance payment = 20% of (750 - 150)
Coinsurance payment = 0.2 * 600 = $120
Amount paid by William = $150 + $120 = $270
Amount paid by insurance company :
Total bill - amount paid by William
$750 - $270
=$480
