Question

Suppose that under your health insurance policy, hospital expenses are subject to a $1,500 deductible and $300 per day copay. You get sick and are hospitalized for 5 days, and the bill (after insurance discounts are applied) comes to $7,000. How much of that hospital bill will you have to pay yourself

Answer 1

Answer:

$3,000

Explanation:

The patient is responsible for paying the deductible (amount of money the insured has to pay before the insurance company starts paying) and the daily copay (fixed amount that the patient has to pay):

deductible:                          $1,500

5 days copay: 5 x $300 =  $1,500

total = $1,500 + $1,500 =    $3,000