Question

William Right broke his leg in an accidental fall. He has a deductible of $250 and a coinsurance payment equal to 20% percent of the cost less the deductible. The entire bill for medical services was $750.00.

Answer 1

Answer:

Part A:

William paid US$ 350

Part B:

The insurance company paid US$ 400

Complete statement and question:

William Right broke his leg in an accidental fall. He has a deductible of $250 and a coinsurance payment equal to 20% percent of the cost less the deductible. The entire bill for medical services was $750.00.  

How much did William pay?

How much did the insurance company pay?

Source: Previous question that can be found at brainly

Step-by-step explanation:

Deductible = US$ 250

Coinsurance payment = 20% of the cost less the deductible

Entire bill for medical services = US$ 750

Part A:

William paid = Deductible + Coinsurance payment

William paid = 250 + (750 - 250) * 0.2

William paid = 250 + (500) * 0.2

William paid US$ 350

Part B:

Insurance company paid = Entire bill for medical services - William's payment

Insurance company paid = 750 - 350

Insurance company paid = 400

The insurance company paid US$ 400