Answer:
$1,150
Explanation:
Domingo first has to pay the deductible ($500), then the copay ($50) and finally he must pay for 20% of the medical expenses resulting from the accident (= $3,000 x 20% = $600). So Domingo's total expenses will be = $500 + $50 + $600 = $1,150
The deductible is a fixed amount that needs to be paid by the insured before the insurance company starts to pay its share of medical bills.
The copay is a fixed amount paid for each health care service provided.
The 80/20 provisions means that the insured is responsible for paying 20% of the medical expenses.
Answer:
He has to pay out of pocket $1,150.
Explanation:
Given Data:
Medical insurance expanses = $3,000 x 20%
Medical insurance expanses = $600
Total expenses = $500 + $50 + $600
Total expenses= $1,150
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