You have a health insurance plan with a $500 deductible and 80/20 coinsurance (insurance pays 80%) for hospital visits.

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answerhappygod
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You have a health insurance plan with a $500 deductible and 80/20 coinsurance (insurance pays 80%) for hospital visits.

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You Have A Health Insurance Plan With A 500 Deductible And 80 20 Coinsurance Insurance Pays 80 For Hospital Visits 1
You Have A Health Insurance Plan With A 500 Deductible And 80 20 Coinsurance Insurance Pays 80 For Hospital Visits 1 (56.71 KiB) Viewed 30 times
You have a health insurance plan with a $500 deductible and 80/20 coinsurance (insurance pays 80%) for hospital visits. After an unfortunately slip on ice, you shattered your wrist and incurred a hospital bill of $1500. How much will you be paying out of pocket for this bill? How much will the insurance company pay for this bill? Show your calculations, and report the final answer in sentence format.
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