Question

Paco has a traditional health insurance plan. His deductible is $750. The level of co-insurance for his plan is 70/30 where 30 represents Paco’s portion. He also has a one-time co-payment of $20. If Paco incurs a $1,000 hospital bill, how much money will he owe out-of-pocket for the bill?

Answer 1

Thank you for asking this question. Here is your answer:

Paco's co insurance covers 2.3%

So that means 2.3% of $250 would be $5.75

Now we will add all of these:

amount of deductible + co insurance + co payment

$750 + $5.75 + $20

= $795.6

If there is any confusion please leave a comment below.