Question

Craig and Jan Johnson have a health insurance policy with a $750 deductible and 35 percent coinsurance. Craig recently sustained $7,250 in medical expenses. How much will Craig and Jan pay

Answer 1

Based on the calculation below, the amount that Craig and Jan pay is $3,025.

How to calculate the amount to pay out of covered medical expenses

This can be calculated using the following formula:

Amount to pay by Craig and Jan = ((Covered medical expenses sustained by Graig – Health insurance policy) * 35%) + Health insurance policy …………………. (1)

Substituting all the relevant values into equation (1), we have:

Amount to pay by Craig and Jan = (($7250 – $750) * 35%) + $750

Amount to pay by Craig and Jan = $2,275 + $750

Amount to pay by Craig and Jan = $3,025

Learn more about health insurance policy here: https://brainly.com/question/3741687.

#SPJ1